Dell Technologies has greed to sell its cybersecurity unit RSA Security for $2.08 billion to a private equity group.
Dell announced that a consortium led by Symphony Technology Group (STG), Ontario Teachers’ Pension Plan Board (Ontario Teachers’) and AlpInvest Partners (AlpInvest) will acquire RSA for an all-cash transaction for $2.075 billion.
The transaction, which includes the purchase of RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference, is expected to close in the next six to nine months.
Dell for its part has made some big name acquisition in previous years, mostly notable the $60 billion acquisition of storage giant EMC back in 2016.
That EMC deal in 2016 brought RSA Security under the Dell umbrella.
EMC for its part had purchased RSA way back in 2006 for $2.1 billion.
The RSA division, under Dell, is said to have approximately 30,000 customers that range from banks through to consumer goods makers such as Toshiba.
“As one of the world’s elite security brands, RSA represents a great opportunity for solving some of the rapidly developing customer challenges that go along with digital transformation,” said William Chisholm, Managing Partner at Symphony Technology Group.
“We are excited and fully committed to maximizing the power of RSA’s talent, expertise and tremendous growth potential and continuing RSA’s strategy to serve customers with a holistic approach to managing their digital risk,” said Chisholm.
“This is the right long-term strategy for Dell, RSA and our collective customers and partners,” said Jeff Clarke, COO and vice chairman at Dell. “The transaction will further simplify our business and product portfolio. It also allows Dell Technologies to focus on our strategy to build automated and intelligent security into infrastructure, platforms and devices to keep data safe, protected and resilient.”
“Until the transaction closes, it will be business as usual,” RSA president Rohit Ghai wrote in a blog post. “RSA, STG and Dell Technologies will work closely together after the transaction closes to ensure a smooth transition.”
Do you know all about security? Try our quiz!
After Donald Trump's ban from many social networking platforms, British MPs grill executives on their…