Just five days before RSA Conference 2020 kicks off, Dell Technologies announced it has entered into an agreement to sell the show's parent organization RSA to a private equity consortium led by Symphony Technology Group (STG) for $2.1 billion.
The all cash deal not only includes RSA’s conference arm, but RSA Archer, RSA NetWitness Platform, RSA SecurID, RSA Fraud and Risk Intelligence. The deal does have to clear the customary regulatory approvals but is expected to close within the next six to nine months, said Jeff Clarke, Dell Technologies COO and vice chairman.
RSA Security operates RSA Conference and is being held from February 23-27 in San Francisco. The group buying RSA is led by STG, but also includes the Ontario Teachers’ Pension Plan Board and AlpInvest Partners.
“In determining the best way to support our customers' digital journeys, we sought a partner that was enthusiastic about RSA's mission; committed to our customer and partner base; and interested in unleashing the power of our talent, experience, and tremendous growth potential. Symphony Technology Group (STG) fully supports our vision, and with a more independent configuration, we expect to be in an even better position to accelerate innovation, ensure customer success with our portfolio of on-prem and cloud solutions, and expand opportunities for our partner ecosystem,” said RSA President Rohit Ghai in a statement.
The RSA Conference generally draws in excess of 40,000 attendees, although this year some exhibitors, including IBM, have dropped out over fears of the coronavirus.