Quest Software Receives Higher Buyout Offer From Dell

By

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
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

View the Masters Tournament from New Perspective Provided by IBM

By: Greg Tavarez    3/30/2023

IBM and the Masters introduced two innovative new features as part of the Masters app and Masters.com digital experience.

Read More

Small Businesses Gain Confidence with Mastercard Easy Savings on McAfee Security Solutions

By: Greg Tavarez    3/29/2023

McAfee and Mastercard expanded their partnership to offer Mastercard Business cardholders automatic savings on online protection solutions from McAfee…

Read More

Through OpenAI Plugins, ChatGPT Can Officially Access the Internet

By: Alex Passett    3/28/2023

OpenAI released plugin features for ChatGPT that enable it to connect to third-party sites, in essence granting it access to the internet past its pre…

Read More

Complete Guide to Passwordless Login

By: Contributing Writer    3/27/2023

Passwordless login is a security method that eliminates the need for traditional passwords by using alternative means to verify a user's identity. Thi…

Read More

What the Fall of Silicon Valley Bank Means for the Future of Venture Capital

By: Special Guest    3/27/2023

With a projected recession on the horizon, venture capitalists were already pulling back on new investments and concentrating on solidifying their exi…

Read More