Dell Technologies sells RSA to Symphony Technology Group consortium for $2.075 billion

The move simplifies Dell's portfolio of companies and allows RSA to focus on its core security mission.

Dell Technologies said it will sell RSA to a consortium led by Symphony Technology Group for $2.075 billion in a move to simplify its portfolio of businesses.

RSA provides security technologies for threat detection and response, identity and access management as well as fraud prevention. RSA has more than 12,500 customers.

According to Dell, the all-cash deal includes RSA Archer, RSA NetWitness Platform, RSA SecureID, RSA Fraud and Risk Intelligence, and the RSA Conference.

The Symphony Technology Group consortium includes the Ontario Teachers' Pension Plan Board (Ontario Teachers') and AlpInvest Partners (AlpInvest).

Dell's deal to sell RSA comes as Broadcom acquired Symantec Enterprise Security business for $10.7 billion and Symantec's consumer unit became NortonLifelock. McAfee, formerly part of Intel, is now independent with a new CEO

Also: Broadcom sells Symantec's Cyber Security Services business to Accenture

Both RSA and Dell said that the focus will help their respective companies and customers. Jeff Clarke, chief operating officer of Dell, said the transaction "will further simplify our business and product portfolio." RSA can use private equity banking to grow its business.

The deal is expected to close in six to nine months.