Francisco Partners, TPG Near Deal to Buy Dell’s Boomi, DJ Says

(Bloomberg) -- Dell Technologies Inc. is close to selling its Boomi cloud business to private-equity firms Francisco Partners and TPG in a deal that values the platform at $4 billion including debt, Dow Jones reported, citing people familiar with the matter.

The deal could be announced as early as Sunday night, according to the report.

Boomi specializes in integrating different cloud platforms for companies. Dell agreed to acquire the company for an undisclosed amount in 2010, a statement showed at the time.

Dell has been cleaning up its balance sheet in recent years and hiving off a variety of businesses. The company announced plans last month to spin off its stake in infrastructure software provider VMware Inc., its most valuable asset.

Last year, it sold cybersecurity unit RSA for $2.08 billion to a private equity firm.

The company is trying to reduce its dependence on hardware sales and transform into a seller of subscription-based computer services. While that shift is ongoing, the company still gets about half of its revenue from sales of personal computers to commercial and consumer customers.

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