Francisco Partners, TPG buy Dell’s cloud business Boomi for $4 bln

Computer maker Dell Technologies Inc on Sunday said private-equity firms Francisco Partners and TPG Capital have entered a definitive agreement to buy its cloud business, Boomi, in a $4 billion cash transaction.

The company said the deal was expected to close by the end of this year but did not disclose additional terms of the transaction.

The Wall Street Journal had reported that Dell was nearing a deal to sell Boomi.