May 19, 2020

Alphabet overtakes Apple as world’s most valuable company

Apple
Google
Finance
Alphabet
Cinch Translations
2 min
Alphabet overtakes Apple as world’s most valuable company

Alphabet Inc.—better known as parent company of Google, Nest, Calico, Fiber, and more—is relatively new as an entity, but it hasn’t wasted any time giving the competition a run for its money. This week Alphabet reached new heights, unseating Apple as the most valuable company in the world.

That milestone came with the release of Alphabet’s 2015 fourth quarter and fiscal year financial results, made public on February 1. Highlights of the results include revenue of $21.3 billion in 2015 Q4 (an 18 percent increase in revenue year over year) and profit of roughly $4.9 billion for the year.

RELATED CONTENT: Alphabetic Order: the benefits of Google's corporate restructuring

“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we've been investing for many years,” said Ruth Porat, CFO of Alphabet, in the release announcing the results. “We're excited about the opportunities we have across Google and Other Bets to use technology to improve the lives of billions of people.”

RELATED CONTENT: How Google and Novartis are shaping health tech

The opportunities of the future are exciting, but the present is just as exciting for investors. As Forbes reports, after hours trading in the wake of the financial results drove Alphabet’s market capitalization up over eight percent to a valuation of more than $550 billion at $815 per share—pushing it well above Apple’s own valuation of nearly $535 billion and into the top spot as the world’s most valuable company.

Of course this could all change with the next Apple announcement. But between all of its segments, Alphabet still has a lot of room to grow and its stock value is likely to grow along with it. 

Share article

May 3, 2021

Dell to sell cloud-based iPaaS Boomi in US$4bn deal

Dell
Boomi
Cloud
Acquisition
Kate Birch
3 min
Francisco Partners and TPG Capital agree to acquire Boomi – provider of cloud-based integration platform as a service – from Dell Technologies for US$4bn
Francisco Partners and TPG Capital agree to acquire Boomi – provider of cloud-based integration platform as a service – from Dell Technologies for U...

Global investment firm Francisco Partners and private equity platform TPG Capital have entered into an agreement with Dell Technologies to acquire cloud-based integration platform as a service provider Boomi in a cash deal valued at US$4bn. The deal is expected to complete this year.

“Boomi has flourished as part of Dell Technologies, growing exponentially since we acquired them in 2010. This proposed transaction positions Boomi for its next phase of growth and is the right move for both companies, our shared customers and partners,” said Jeff Clarke, vice chairman and chief operating officer of Dell Technologies.

“For us, we're focused on fuelling growth by continuing to modernise our core infrastructure and PC businesses and expanding in high-priority areas including hybrid and private cloud, edge, telecom and APEX. All designed to help organisations thrive in the do-from-anywhere economy.”

Dell’s Boomi sell-off follows VMware spin-off

This announcement comes just two weeks after Dell said it would spin-off its 81% equity ownership of VMware to form two standalone companies. This would result in an expected US$9.3bn cash dividend payment to Dell, which says it will use those funds to pay down debt.

When Dell acquired Boomi in 2010 for an undisclosed fee, Boomi offered the industry’s only pure SaaS application integration platform, powered by its revolutionary AtomSphere technology. Dell saw Boomi as addressing one of the top barriers to cloud adoption at that time, which was managing and integrating cloud-based applications with existing applications and databases.

Now, Boomi has more than 15,000 customers globally and is still seen as a leader when it comes to organisations connecting applications, processes and people across a range of locations and devices – a process that can take weeks rather than months.

“I am incredibly proud that through innovation, passion and relentless execution, the Boomi team has created a unified platform for the modern-day hybrid IT landscape that thousands of customers worldwide depend on to digitally transform their business,” said Chris McNabb, chief executive officer of Boomi.

“By partnering with two tier-one investment firms like Francisco Partners and TPG, we can accelerate our ability for our customers to use data to drive competitive advantage. In this next phase of growth, Boomi will be in a position of strength to further advance our innovation and market trajectory while delivering even more value to our customers.”

Francisco Partners has invested in more than 300 technology companies since its launch 20 years ago and has more than US$25bn in assets under management.

“The ability to integrate and connect data and workflows across any combination of applications or domains is a critical business capability, and we strongly believe that Boomi is well positioned to help companies of all sizes turn data into their most valuable asset,” said Dipanjan Deb, co-founder and chief executive officer, and Brian Decker, partner, at Francisco Partners

Nehal Raj, partner, and Art Heidrich, principal, at TPG Capital added: “The need for automation and data integration across applications has never been greater. Boomi's cloud-native platform enables enterprises to streamline business processes and is essential for driving digital transformation.”

Share article