Quest Software Receives Higher Buyout Offer From Dell

By Ashok Bindra June 25, 2012

On Monday, Associated Press reported that database management specialists at Quest Software received a higher buyout offer from unnamed bidder. It was an offer of $27.50 per share, worth about $2.32 billion.

The big increased after the company announced in March it was being bought by investment firm Insight Venture Partners for $23 per share, the AP report stated. The Aliso Viejo, Calif.-based software company said the Insight deal was valued at about $2 billion.

Quest said the March bid offered a 19-percent premium to the company's closing stock price the day before the deal was announced. The $27.50-per-share offering announced Monday would represent a 42-percent premium to Quest's ending price of $19.40 from March 8.

Shares of Quest, however, reportedly rose $1.37, or 5.2 percent, to $27.59 in midday trading on Monday. Consequently, the AP report suggests that investors think there may be yet another higher offer in the pipeline.

Meanwhile, Quest said its board has decided that the most recent offer of $27.50 per share is far better than earlier bids. Officials have therefore informed Insight and its partner Vector Capital about the latest offers.

The report said Insight and Vector have three days to match the offer.

According to Reuters, the improved worth $2.32 billion comes from Dell Inc., the number-two U.S. PC maker. Takeover talks are private, according to the source.

While Dell declined to comment on this deal, a Quest representative was not immediately available for comments, according to Nadia Damouni and Supantha Mukherjee.


Want to learn more about the latest in communications and technology? Then be sure to attend
ITEXPO West 2012, taking place Oct. 2-5, in Austin, TX. ITEXPO offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.




Edited by Braden Becker

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Why People Don't Update Their Computers

By: Special Guest    7/13/2018

When the WannaCry ransomware attacked companies all over the world in 2017, experts soon realized it was meant to be stopped by regular updating. Even…

Read More

More Intelligence About The New Intelligence

By: Rich Tehrani    7/9/2018

TMC recently announced the launch of three new artificial intelligence events under the banner of The New Intelligence. I recently spoke with TMC's Ex…

Read More

Technology, Innovation, and Compliance: How Businesses Approach the Digital Age

By: Special Guest    6/29/2018

Organizations must align internally to achieve effective innovation. Companies should consider creating cross-functional teams or, at a minimum, incre…

Read More

Contribute Your Brain Power to The New Intelligence

By: Paula Bernier    6/28/2018

The three events that are part of The New Intelligence are all about how businesses and service providers, and their customers, can benefit from artif…

Read More

TMC Launches The New Intelligence - an Unparalleled AI and Machine Learning Conference & Expo in Florida

By: TMCnet News    6/28/2018

TMC announced the launch of The New Intelligence conference and expo - The Event Powering the AI Revolution. This exciting new event will take place o…

Read More