Private equity firms Francisco Partners and TPG Capital have agreed to acquire Boomi, the cloud integration business of Dell Technologies, in a $4bn cash transaction, Reuters reports.

The deal, expected to close by year-end, marks Dell’s latest step in refocusing its operations and enhancing profitability following its $67bn acquisition of EMC in 2016. That deal left the company with substantial debt and prompted a broader restructuring effort.

Boomi, a provider of cloud-based data integration and automation solutions, has been part of Dell’s portfolio since 2010. The sale allows Dell to sharpen its focus on core infrastructure and technology offerings while unlocking value from its cloud assets.

For Francisco Partners and TPG, the acquisition adds another high-growth software asset to their technology portfolios. Both firms have extensive experience investing in enterprise software and digital transformation platforms, positioning them well to accelerate Boomi’s next phase of expansion.

The transaction follows Dell’s planned spin-off of VMware, part of its broader strategy to streamline its business and drive higher returns.

If you think we missed any important news, please do not hesitate to contact us at news@pe-insights.com.

Can`t stop reading? Read more.