Wednesday 22 November 2017

Dell buys Quest Software for $2.4bn in cash


DELL will buy enterprise management software maker Quest Software Inc for $2.4bn (€1.9bn) in cash, trumping a $2.17bn bid by private investment firm Insight Venture Partners.

Dell sparked a bidding war in June when it offered $25.50 per share for Quest, outbidding Insight's initial offer in March of $23 per share.

Insight later bid $25.75 a share for Quest.

Last week, Quest said a strategic bidder that it did not identify offered $27.50 per share for the company.

"The addition of Quest will enable Dell to deliver more competitive server, storage, networking and end user computing solutions and services to customers," said John Swainson, president of Dell Software Group.

Dell said it expects the deal to close in the third quarter.

Quest shares, which have risen 43 percent since Insight first made its offer, fell 8 cents to $27.73 in trading before the bell on Monday.

The stock closed at $27.81 on Friday on the Nasdaq.

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