Dell Technologies (DELL) - Get Report said Tuesday it had agreed to sell its RSA cybersecurity unit for $2.08 billion to a group led by private-equity firm Symphony Technology Group, Ontario Teachers' Pension Plan Board and PE firm Carlyle Group's AlpInvest Partners.
The transaction is expected to close in the next six to nine months.
Dell shares at last check were off 0.2% to $52.77.
The sale includes RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence and RSA Conference, Dell said in a statement.
Based in Bedford, Mass., RSA has more than 12,500 customers, while the RSA Conference is the world’s largest security conference, Dell said.
Among its products are the RSA Bsafe cryptography libraries and the SecurID authentication token.
Founded as an independent company in 1982, RSA was acquired by EMC in 2006 for $2.1 billion and operated as a division within EMC. Dell acquired EMC in 2016.
“The transaction will further simplify our business and product portfolio," said Jeff Clarke, vice chairman and chief operating officer at Dell, in a statement.
"It also allows Dell Technologies to focus on our strategy to build automated and intelligent security into infrastructure, platforms and devices to keep data safe, protected and resilient.”
"As one of the world’s elite security brands, RSA represents a great opportunity for solving some of the rapidly developing customer challenges that go along with digital transformation," William Chisholm, managing partner at Symphony Technology Group, said in a statement.
Symphony Technology was founded in 2002 and is based in Palo Alto, Calif. Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan, with $201.4 billion in net assets at June 30.
AlpInvest is a global private equity investor, with more than $42 billion of assets under management as of Sept. 30.
Morgan Stanley was financial adviser to Dell, and UBS and Jefferies were financial advisers to Symphony Technology Group.