Tag: Elliott Management

Elliott Management prepares to take on Salesforce

Posted on January 25, 2023 by - News

Sparks are expected to fly after Elliott Management made a multibillion-dollar investment in CRM powerhouse Salesforce.

For those not in the know, Elliott Management has a history of investing in companies and then forcing them to turn over more money to shareholders. It is expected that Elliott will force more layoffs at the outfit.

Salesforce has been doing well as a company but not returned enough cash to investors, which makes it ripe for activism.

In a statement Elliott Management managing partner Jesse Cohn said his outfit was ,looking forward to “working constructively with Salesforce to realise the value befitting a company of its stature.

“Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for (Salesforce co-founder and co-chief Executive) Marc Benioff and what he has built,” said Cohn.

 

 

Dell flogs his software arm to the House of Elliott

Posted on June 21, 2016 by - News

elliotTin box-shifter Michael Dell is about to flog his software division to buyout firm Francisco and the private equity arm of activist hedge fund Elliott Management.

Dell needs to get rid of its software assets so that it can buy data storage company EMC for $67 billion. EMC owns a controlling stake in VMware and other software assets, so Dell does not need its own.

One of the things that Dell wants to off-load is Quest Software, which helps with information technology management and SonicWall, an e-mail encryption and data security provider. It is keeping Boomi, which is cloud-based software integration software.

The deal is expected to be formally announced this week, although it is possible that the whole thing could go tits up and never happen. Neither Dell nor Francisco are commenting.

Dell’s software division is not particularly profitable and Dell needs as much cash as he can get his paws on to reduce the debt he took on when took the outfit private.