Dell to acquire ASAP
And ex-CEO Rollins joins private equity group
Computer maker Dell has entered into a £340m agreement to acquire software solutions and licensing services provider ASAP.
If the deal, which is subject to regulatory conditions, gets the go ahead Dell said it expects to see the software arm of its business grow with a little bit of help from ASAP's "expertise" in licensing, purchasing, renewals, and compliance.
Dell said its corporate, government, and institutional customers had been increasingly turning to the firm for it to provide a way of "simplifying software management".
The self-proclaimed peddlers of the direct market business model, which recently decided to dip its toes into the, er, channel in a bid to turn fortunes around at the firm, reckon ASAP could "re-invent and simplify the way our customers get access to IT".
ASAP, which currently employs some 600 staff, began life in 1984 and provides its software solutions to customers throughout North America and Europe.
The acquisition is expected to complete during Dell's fiscal third quarter.
Meanwhile, ex-Dell CEO and direct sales guru Kevin Rollins has joined private equity group TPG Capital to head up the technology arm of its business.
TPG has been involved in some high-profile deals in recent years, including its investment in Dell rival computer firm Lenovo, which today reported a 13 per cent profit increase.
Other technology firms on TPG's books include Freescale, Avaya, and SunGard. ®