Benzinga | May 3, 2021 06:12AM EDT

Dell To Sell iPaaS Provider Boomi For $4B

* Global investment firm Francisco Partners and private equity platform of global alternative asset firm TPG, TPG Capital, inked an agreement with Dell Technologies Inc (NYSE: DELL) to acquire cloud-based integration platform as a service (iPaaS) provider, Boomi, in a cash transaction valued at $4 billion.

* The financial terms of the transaction were not disclosed.

* Dell remains focused on fueling growth by continuing to streamline its core infrastructure and PC businesses and expanding in high-priority areas, including hybrid and private cloud, edge, telecom, and APEX to help organizations thrive in the do-from-anywhere economy, Dell COO Jeff Clarke said.

* Price action: DELL shares closed lower by 1.67% at $98.33 on Friday.