Boomi

Boomi is a developer of an integration platform offered as a service (iPaaS). This solution is designed to build cloud and local application integrations, as well as a combination of them. Boomi has more than 15 thousand customers around the world (by May 2021).

History

2021: TPG Capital and Francisco Partners buy Boomi for $4 billion

In early May 2021, Dell announced an agreement to sell Boomi to investment companies Francisco Partners and TPG Capital for $4 billion. It is planned to close the deal before the end of 2021.

Dell Operations Director Jeff Clark said the company made the right decision because it will allow it to focus on key business areas such as computers, servers, hybrid cloud platforms, peripheral computing, telecommunications solutions and IT hardware leasing.

TPG Capital and Francisco Partners buy Boomi

According to Bloomberg, the company is trying to reduce dependence on hardware sales and become a provider of technology services offered on a subscription basis. The company receives about half of the income from sales of personal computers, the agency adds.

The sale of Boomi should free up more resources for Dell to invest in its core business, as well as provide the company with new capital that it could use to pay off debts that currently exceed $40 billion.

The publication SiliconANGLE notes that the purchase of Boomi at one time, apparently, had a slight impact on Dell's financial performance: before the sale, Boomi raised only $5 million, and Dell did not disclose the cost of acquisition, which indicates a low price.

Boomi has flourished as part of Dell Technologies and has grown exponentially since we purchased it in 2010, says Jeff Clark. - The sale of Boomi puts the company on a new stage of growth and is the right step for both companies, our common customers and partners.[1]

Notes