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Dell Sells Software Unit to Francisco Partners, Elliott

  • Deal to help streamline company ahead of planned EMC merger
  • Marks debut for Elliott’s new PE arm Evergreen Coast Capital
Updated on

Dell Inc. agreed to sell its software unit to buyout firm Francisco Partners Management LLC and the new private equity arm of hedge fund Elliott Management Corp., streamlining the company ahead of its planned merger with EMC Corp.

The sale of the unit, which is focused on advanced analytics, database management and data protection, will help Dell make good on its commitment to shed non-core assets as it nears completion of its $67 billion purchase of EMC. Terms weren’t provided in the statement released Monday.