Updated: Dell sells RSA cybersecurity firm to private equity consortium for $2B+
Dell Technologies Inc. announced Tuesday it’s selling its venerable RSA Security LLC business to a consortium led by Palo Alto, California-based private-equity firm Symphony Technology Group for $2.075 billion, according to a report Monday night in the Wall Street Journal.
The consortium led by the private equity firm, also known as STG Partners LLC, includes Ontario Teachers’ Pension Plan Board and AlpInvest Partners. The all-cash transaction includes the purchase of RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference. It’s expected to close in the next six to nine months.
“This is the right long-term strategy for Dell, RSA and our collective customers and partners,” Jeff Clarke, Dell’s chief operating officer and vice chairman, said in a statement. “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.”
Clarke added in a blog post that Dell has been working for the last three years to simplify its business and product portfolio.