Network security firm SonicWall has officially spun out of Dell Software Group as an independent company. Francisco Partners, a leading technology-focused private equity firm, and Elliott Management announced the completion of the acquisition of Dell Software Group. According to various news reports, the Dell Software deal is being thought to be worth around $2 billion.
Dipanjan Deb, the CEO of Francisco Partners, said, “SonicWall is trusted by customers and channel partners in 40 countries worldwide. As we have worked closely with SonicWall in recent months, it has become even clearer to us how laser focused SonicWall is on innovating next-generation network security solutions to serve customers and partners. This acquisition will better enable SonicWall to continue their journey in delivering world class solutions to their large and dedicated base of customers and help them to defend against the explosive growth of new cyber security threats.”
In conjunction with the creation of an independent SonicWall, the company named cybersecurity and networking veteran Bill Conner as its president and CEO. Conner previously served as CEO of Silent Circle and CEO of Entrust as well as President of Data Networks and then President of Enterprise Networks at Nortel Networks. Speaking about the new development, Conner said that the spin out will allow SonicWall to act even more deftly and quickly in serving its channel partners and customers.
“If you look at the headlines about cybersecurity threats, we are in the midst of a cybersecurity arms race,” said Conner. “To protect customers against sophisticated cybersecurity threats, we are continuing our commitment to product innovation to serve our customers and invest in our partners who operate as an extension of the SonicWall team.”
According to a press statement by SonicWall, the company said that it had achieved several key milestones this year. The company said that the number of new partners offering SonicWall’s solutions grew by 20 percent in the last year. In addition, SonicWall’s Capture Advanced Threat Prevention Service has analysed more than four million suspicious files since the service’s launch in August.
The company also said that to continue its commitment and investment in the channel, it has announced its SonicWall SecureFirst Partner Program. This new program will go live by February 2017 and it will be introducing increased reward for value benefits, deal protection, and expanded technical enablement on the SonicWall portfolio.
“It’s not only SonicWall’s relationships with channel partners that have made the company a global leader—it’s the company’s continuous achievements in innovation. SonicWall customers’ networks now are protected by one of the most advanced tools on the market, the cloud-based Capture Advanced Threat Protection Service, thanks to great work by SonicWall’s product engineering team. Becoming an independent company will give us the freedom to move faster when responding to growing cyberthreats and bringing new solutions to customers,” concluded Conner.