Francisco Partners and Elliott Management Complete Acquisition of Dell Software Group …Formation of two separate companies: Quest and SonicWall
This is a Press Release edited by StorageNewsletter.com on 2016.11.02
Francisco Partners Management LLC, a technology-focused private equity firm, and Elliott Management Corporation have completed the previously announced acquisition of the Dell Software Group from Dell, Inc., including both Quest and SonicWall, Inc.
The acquisition bolsters Francisco Partners and Elliott Management's technology portfolios with the addition of two companies focused on systems and information management, identity and access management, and security solutions.
Quest and SonicWall will operate as independent companies going forward.
"We believe there is significant opportunity to create value for all stakeholders involved by operating Quest and SonicWall as two separate companies," said Dipanjan DJ Deb, Francisco Partners' co-founder and CEO. "Both companies have very strong product portfolios and loyal customers, but operate in very different markets. As standalone businesses, Quest and SonicWall will have the resources, focus and independence required to drive the next stage of growth for each company."
Francisco Partners and Elliott Management also announced that Jeff Hawn and Bill Conner will join as the CEOs of Quest and SonicWall, respectively.
"I am enthused to lead Quest into a new era and continue delivering the proven market-leading solutions that address the most critical IT pain-points," said Hawn. "I look forward to working with the broader Quest team, Francisco Partners, and Elliott Management to drive product innovation and business growth for our loyal customers and partners."
Jeff Hawn, CEO, Quest, brings more than 15 years of experience as a software company executive. Previously, he was chairman and CEO of Vertafore, a software provider for the insurance industry, and prior to that was chairman and CEO of The Attachmate Group, a provider of identity and infrastructure enterprise software.
"We are excited about the opportunity at Quest, and we look forward to working with Jeff and the Quest team in enabling their customers to leverage existing IT investments as they transition to new computing environments," said Brian Decker, principal at Francisco Partners.
Quest's solutions help customers of all sizes reduce the time and money spent on IT administration so they have more time to focus on and invest in business innovation. Customers can automate complex processes, optimize application experiences, and enable data-driven decision making, all while modernizing for the cloud with accuracy and security. Solutions span critical areas of the hybrid-cloud management landscape, including database management, data protection, endpoint systems management, and Microsoft platform management. Quest also includes One Identity, a provider of identity governance, privileged management and access management solutions in the identity and access management (IAM) market.
SonicWall is a provider of business network security solutions to SMBs and enterprises worldwide. With businesses increasingly focused on securing their data, offerings provide businesses with sophisticated network security, access security and e-mail security that is simple to use.
"SonicWall's industry leading products, respected brand name, and channel relationships-combined with increasing adoption of advanced network security solutions-create an exciting opportunity to join the company," Conner said. "I am very excited to be a part of SonicWall and, with the support of Francisco Partners and Elliott Management, we will continue to provide industry leading security solutions to our customers."
Bill Conner, CEO, SonicWall, brings more than 30 years of experience in the networking and security industries, most recently as president and CEO of Silent Circle, an encrypted communications provider, and prior to that served as president and CEO of Entrust, an identity-based data security solutions provider. Previously, he was president of enterprise networks for Nortel Networks.
"We see tremendous growth opportunities ahead for SonicWall, and we are thrilled to be partnering with Bill and the rest of the SonicWall team to continue delivering market leading security solutions," said David Golob, Francisco Partners' chief investment officer.
"Elliott has been a long-term investor in the technology sector and the acquisitions of Quest Software and SonicWall continue this trend," said Jesse Cohn, senior portfolio manager, Elliott Management. "These acquisitions represent a significant deal by Evergreen Coast Capital, Elliott's recently established Menlo Park affiliate. We look forward to partnering with Jeff, Bill and Francisco Partners to create significant value at these two companies."
Francisco Partners and Elliott Management to Acquire Dell Software Group
For reported $2 billion, including Quest Software and SonicWALL
2016.06.23 | Press Release