Personal Computer Maker, Dell Technologies, Reignites Plan to Sell Cybersecurity Company, SecureWorks
According to persons familiar with the situation, Dell Technologies, a manufacturer of personal computers, is once again considering the possibility of selling SecureWorks.
This comes after previous attempts to find a buyer for the American cybersecurity company were fruitless.
The company has hired Morgan Stanley and Piper Sandler to seek interest from potential purchasers, including private equity companies, according to the sources.
Secureworks is a multinational cybersecurity firm. Dell Technologies acquired SecureWorks for $612 million in 2011 as part of a larger drive to develop its enterprise IT solutions and services business.
However, a sale is not guaranteed, and Dell may choose to keep control, they said.
Dell, located in Round Rock, Texas, owns 79.2% of SecureWorks by holding all class B shares, or 97.4% of the voting stock.
The proposed sale is consistent with Dell’s approach of divesting non-core assets to control debt.
“We are aware of the recent media speculation regarding a possible transaction involving Secureworks,” a Secureworks spokesperson stated.
“As a matter of policy, we do not comment on market rumours or speculation. We remain focused on serving our stakeholders and advancing our mission to secure human progress with Taegis.”
Secureworks is headquartered in Atlanta, Georgia, and serves over 4,000 customers in more than 70 countries. Taegis Extended Detection and Response (XDR) analyses security intelligence from data ingested by third-party applications.
Dell purchased Secureworks in 2011, and the firm went public in 2016. Since then, the business has contemplated selling Secureworks several times, notably in 2019.
We earlier reported that Cisco will reportedly let off roughly 4,000 people in its second round of job layoffs this year, as the world’s largest networking corporation focuses on artificial intelligence.
According to Reuters, Cisco’s current layoff round might affect 4,000 or slightly more people, similar to the number of employees put off in February.
