Dell sells majority stake in Smarsh

Dell sells majority stake in Smarsh

Dell quietly sold its majority stake in Portland-based digital archivist Smarsh.

The new owner is a California investment firm, Toba Capital, which manages a $250 million fund and says it’s ready to invest in expanding the Portland business. Smarsh is already moving to grow its work force and expand its downtown office to make room for the new employees.

Smarsh archives the online records and correspondence of financial firms, health care organizations and others who need to document their activities for regulatory or legal reasons. Revenues climbed to $27 million in 2012, up from $20 million a year earlier and $8.1 million in 2008.

Read more at OregonLive.com.