Aquisitions / Software

Dell sold its software group but Boomi is staying put

Dell is keeping the Berwyn-based SaaS company.

The Boomi booth at the 2016 NetSuite SuiteWorld Conference. (Photo via Twitter)

Two San Francisco-based equity firms bought Dell’s software arm yesterday.

But in the Philly tech scene, that meant one question popped to the fore: What’s going to happen to Boomi?
The Berwyn, Pa.-based SaaS company founded in 2000 by Rick Nucci was bought by Dell in 2010 for an undisclosed sum.
We reached out to Dell for official comment and here’s what we got:
“Dell is in fact retaining Boomi,” said spokesman David Frink. “[Boomi General Manager] Chris McNabb  remains in charge. We believe that Boomi’s technology offering aligns with our strategic vision.”
Bob Moul, the former CEO of Boomi who oversaw the 2010 acquisition, told via email that hanging on to the business was a good call.
“Given what I’ve heard about their revenues and SaaS multiples rising again, Boomi could be worth north of a half billion dollars on its own,” Moul, now the CEO of Cloudamize, said.
Comment from Boomi was not immediately available, though the company did tweet this:

Companies: Boomi / Dell
People: Bob Moul / Rick Nucci

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