Investment Firms are Set to Acquire Chesterbrook-Based Boomi From Dell in a Deal Valued at $4B
Boomi is set to have new owners.
The Chesterbrook-based SaaS company, which was first acquired by Dell more than a decade ago, is now the center of an impending deal to be spun out of the computing giant to global investment firms Francisco Partners and TPG Capital.
The definitive agreement for the acquisition, announced in a company blog post back in May, is expected to close by the end of this year. The cash transaction for the deal is valued at $4 billion, the company said.
Boomi was founded by Rick Nucci, who went on to cofound Guru Technologies, where he’s now CEO. Nucci grew Boomi to about 30 people and sold it to Dell in 2010. The company specializes in cloud-based integration platform as a service (iPaaS).
The deal with Francisco Partners and TPG Capital “positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners,” said Jeff Clarke, vice chairman and CEO of Dell Technologies said in a statement.
Read the full article here.