Dell Inc. (NASDAQ: DELL) announced its intention to acquire network security firm SonicWall Inc. for an undisclosed price. SonicWall was taken private in 2010 by private equity firm Thoma Bravo LLC and the Ontario Teachers Pension Plan for $717 million. A spokesman for Thoma Bravo told The Wall Street Journal that SonicWall’s value had increased significantly since that time.
Dell needs to sell more hardware, and it’s a little difficult to see how this security software acquisition is going to help Dell stem the forecast downturn in PC sales this year.
Dell’s shares are trading up 0.75% this morning, at $17.09 in a 52-week range of $13.29-$18.36.
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