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Mobile Security Industry News

[March 15, 2012]

Thoma Bravoand and Ontario Teachers' Pension Plan to sell SonicWALL to Dell

Mar 15, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Thoma Bravo, LLC and Ontario Teachers' Pension Plan (OTPP) have agreed to sell SonicWALL, Inc. to Dell, Inc. Both SonicWALL and Dell are based in the US.

SonicWALL is a developer of network security and data protection solutions designed to detect and control applications and protect networks from intrusions and malware attacks. Dell is a manufacturer of desktop PCs, servers, networking products, software and peripheral.

Reportedly, the transaction is valued at approximately $1,200 million, including SonicWALL's debt.

Earlier in July 2010, Thoma Bravo and OTPP, through its private investor department Teachers' Private Capital, have acquired SonicWALL for a cash consideration of approximately $717 million.

Thoma Bravo is a private equity fund management firm, while OTPP is a Canadian pension fund.

Centerview Partners LLC is acting as advisor to SonicWALL and Dewey & LeBoeuf is acting as legal advisor to Dell, while Weil, Gotshal & Manges LLP is acting as a legal advisor to OTPP.

The transaction was approved by the board of directors of each company. The transaction remains subject to customary conditions and is expected to close in the second quarter of Dell's financial year 2013.

Deal Value (US$ Million) 1200 Deal Type Private Equity Sub-Category Exit Deal Status Announced: 2012-03-13 Deal Participants Target (Company) SonicWALL, Inc.

Acquirer (Company) Dell, Inc.

Deal Rationale The acquisition will enable Dell to expand its security portfolio, which includes Dell SecureWorks security services, cloud security solutions and data encryption solutions, and Dell KACE vulnerability and patch management.

SonicWALL's Firewalls and Unified Threat Management (UTM) Firewalls will complement Dell's security solutions portfolio, enabling it to offer customers a broader range of enterprise offerings.

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