by Joe Panettieri • Jun 4, 2021
SonicWall’s private equity owners are preparing to put the cybersecurity technology company up for sale, PE Hub reports.
Francisco Partners and Elliott Management acquired SonicWall from Dell Technologies in 2016. Now, those private equity firms have hired Morgan Stanley to advise on the SonicWall sale process, which is expected to start in late June 2021, PE Hub reports.
SonicWall has longstanding relationships with MSPs and MSSPs worldwide. Many of those partnerships initially involved managed firewall services.
Under CEO Bill Conner, SonicWall expanded the MSP and MSSP partner strategy to include more formalized efforts that extend across network, email, management, monitoring and reporting solutions.
Among the key moves: SonicWall updated its Boundless Cybersecurity portfolio in August 2020 to help MSSPs secure large-scale customer networks and remote workforces.
SonicWall’s revenue, profits and estimated valuation are undisclosed. The cybersecurity company and the private equity firms did not comment about the PE Hub report.
Wow, this is happening again. Hopefully optimistic but hard to be at this point. As a long time partner we have seen the struggles
Hey Wally: Thanks for your note. I apologize for stating the obvious, but for those who don’t necessarily track private equity investments in technology companies here’s the reality: Generally speaking, it’s safe to say that the vast majority of private equity-owned businesses will eventually have new ownership. That’s the nature of the PE market.
Joe – completely agree. I guess as someone who has been selling Sonicwall for 15+ years it’s a lather, rinse, repeat situation. Big fan of Sonicwalls base firewall products which they do a good job of producing but as I see the hands change again and again I keep hoping for some more innovation being done and been sorely disappointed at trying to extend out from their base Sonicwall. I kind of feel these companies keep buying Sonicwall for the recurring revenue of resellers like us but one cannot help but see the technology changing in the marketplace and Sonicwall not keeping up. I keep hoping they get the money to buy and merge truly good products to enhance the base. Thanks again!
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