For now, it’s business as usual, but Dell Technologies today announced that it was selling its cybersecurity arm RSA for $2.075 billion to a consortium of investors led by Symphony Technology Group, a deal that’s expected to close in six to nine months.
RSA became part of the Dell Technologies family after the $67 billion acquisition deal that saw Dell Technologies acquire EMC in 2015. Seeking to become an end-to-end solutions provider, the hardware maker suddenly had three different endpoint security products, as well as new virtualization and storage capabilities.
Dell reportedly began the search for a buyer in December 2019, according to PE Hub. RSA’s channel partners include value-added resellers, system integrators, consulting firms and distributors, and the company has more than 30,000 customers globally, according to its website.
The consortium of investors led by Symphony Technology Group, which includes the Ontario Teachers’ Pension Plan Board and AlpInvest Partners, is the “right custodian” to help achieve RSA’s goals, Dell Technology’s chief operating officer and vice chairman Jeff Clarke, wrote in a blog post announcing the deal.
“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 maximizing the power of RSA’s talent, experience, and tremendous growth potential,” he wrote.
For Bell, it means “greater flexibility to focus on integrated innovation across Dell Technologies…” Clarke explained.
RSA president Rohit Ghai didn’t add much to the announcement, and in a separate blog post echoed Clarke’s comments.
“Symphony Technology Group fully supports our vision, and with a more independent configuration, we expect to be in an even better position to accelerate innovation, ensure customer success with our portfolio of on-prem and cloud solutions, and expand opportunities for our partner ecosystem.”