RSA Security LLC will be sold by Dell Technologies to a consortium of private equity firms in a deal that is worth over $2 billion.
The syndicate will be led by Palo Alto-based equity firm Symphony Technology Group and contains Ontario Teachers’ Pension Plan Board and AlpInvest Partners.
RSA offers many different security services, such as fraud protection, access and risk management, and threat detection. In 2015, Dell took over EMC Corp.
The group of private equity firms will also be taking over RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference, as a part of the deal.
Dell Technologies said stakeholders have a big interest in the sale of RSA.
Jeff Clarke, COO and Vice-Chairman at Dell Technologies said, “This is the right long-term strategy for Dell, RSA and our collection customers and partners.”
“The transaction will further simplify our business and product portfolio. It also allows Dell Technologies to focus on our strategy to build automated and intelligent security infrastructure, platforms and devices to keep data safe, protected and resilient.”
Equally kept afloat by the transaction, Symphony Technology Group saw it as “a great opportunity for solving some of the rapidly developing customer challenges that go along with the digital transformation.”
It is predicted that within the next 9 months, the sales will conclude.