Dell to sell off Boomi for $4bn

News of Francisco Partners and TPG Capital purchasing Boomi comes just weeks after Dell announced sale of VMWare

Dell has agreed the sale of its cloud-based integration platform Boomi to global investment firm Francisco Partners and private equity platform TPG Capital.

The sale is worth $4bn and comes just weeks after Dell announced it was splitting from VMWare in a deal worth $9.7bn.

"Boomi has flourished as part of Dell Technologies, growing exponentially since we acquired them in 2010," said Jeff Clarke, vice chairman and chief operating officer of Dell Technologies.

"This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners.

"For us, we're focused on fuelling growth by continuing to modernise our core infrastructure and PC businesses and expanding in high-priority areas including hybrid and private cloud, edge, telecom and APEX. All designed to help organizations thrive in the do-from-anywhere economy."

The news was announced ahead of Dell's annual conference which is taking place this week.

Boomi serves 15,000 customers globally and claims to help them to discover, manage and orchestrate data.

The sale is expected to be completed by the close of the year.

"I am incredibly proud that through innovation, passion and relentless execution, the Boomi team has created a unified platform for the modern-day hybrid IT landscape that thousands of customers worldwide depend on to digitally transform their business," said Chris McNabb, chief executive officer of Boomi.

"By partnering with two tier-one investment firms like Francisco Partners and TPG, we can accelerate our ability for our customers to use data to drive competitive advantage.

"In this next phase of growth, Boomi will be in a position of strength to further advance our innovation and market trajectory while delivering even more value to our customers."