Dell Technologies sells cybersecurity unit RSA for $2bn
Buyer consortium headed by Symphony Technology Group, Ontario Teachers Pension Plan Board and AlpInvest Partners
20 February 2020 | 0
Dell Technologies will be selling its cyber security unit, RSA for $2.08 billion to a consortium headed by Symphony Technology Group, Ontario Teachers Pension Plan Board and AlpInvest Partners.
The two companies expect the deal to close within the next six to nine months, and it will be business as usual.
In a blog, Dell Technologies vice chairman products and operations, Jeff Clarke said it was the right long term strategy for both companies.
“In determining the best long-term future for RSA, we sought a partner that was enthusiastic about RSA’s mission, committed to its customer and partner base, and interested in maximising the power of RSA’s talent, experience, and tremendous growth potential. We believe Symphony Technology Group will be the right custodian to achieve these goals,” Clarke said.
“RSA, including RSA Conference, is invaluable to our customers and the security community at large – and with that in mind we will work to ensure a seamless transition.”
Furthermore, Clarke said the sale of RSA will give Dell greater flexibility to focus on integrated innovation across the company, while allowing RSA to focus on its strategy of providing risk, security and fraud teams with the ability to holistically manage digital risk.
“We’ve been working over the last three years to simplify our business and product portfolio to make it easier for our customers to meet their digital transformation requirements. The strategies of RSA and Dell Technologies have evolved to address different business needs with different go-to-market models,” he said.
RSA president Rohit Ghai as a more independent company, it will be in a better position to accelerate innovation, customer success on-prem and the cloud, and expand opportunities for its partner ecosystem.
“RSA, STG and Dell Technologies will work closely together after the transaction closes to ensure a smooth transition, and to provide all of our stakeholders with the same level of dedication, service and support they’ve come to expect from RSA,” Ghai said.
“We believe today’s announcement is great news for all of our stakeholders, and we are excited about the opportunity to take this journey to the next level and unleash the full potential of RSA.”
IDG News Service