Dell, Elliott Management and Francisco Partners issued a press release this morning confirming Dell’s decision to sell their software department. Francisco Partners and Elliott Management are rumored to have acquired the division for more than $2 billion.
This announcement is thought of to be as part of Dell’s plans to finance their acquisition of EMC. Along with the decision to sell the software division, Dell also sold its IT services division to NTT data in March for $3 billion. The $67 billion EMC transaction is reported to go through later this year.
None of the involved parties have confirmed the exact price of the software division acquisition, but a formal report is expected sometime this week.