tech:

taffy

Dell sells off software division

Technology-focused private equity firm Francisco Partners and Elliott Management have signed a definitive agreement to acquire the software business from Dell. The deal is reportedly worth $2 billion, though a purchase price was not disclosed.

Debt financing for this transaction was provided by Credit Suisse and RBC Capital Markets. Barclays and Citigroup acted as lead financial advisors and Shearman & Sterling, Kirkland & Ellis, and Gibson Dunn as legal advisors to Francisco Partners and Evergreen Coast Capital. Goldman Sachs acted as exclusive financial advisor and Simpson, Thacher & Bartlett acted as legal advisors to Dell.

The transaction is subject to customary regulatory review.

[Image courtesy: Dell]

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