02 jul: Troika To Start Three Day Greece Visit Thursday
02 jul: Four 'C's for Well-planned and Sustainable Urban Development
02-07-2012 15:18:00

Dell To Acquire Quest Software for $2.36 Billion Following Bidding War

By Victoria Stilwell

Business-software maker Quest Software Inc. (QSFT) agreed to be acquired by Dell Inc. (DELL) in a cash deal worth $2.36 billion, bringing a bidding war with a private-equity group to a close.

Quest shareholders will receive $28 a share, up significantly from the private-equity group's initial bid of $23 and marking a 0.7% premium to Friday's close. The offer is the latest in a months-long bidding war with a buyout group led by Insight Venture Partners and joined by buyout firm Vector Capital and Quest Chief Executive Vinny Smith.

Quest hadn't previously identified Dell as the rival bidder, though the company was widely named in media reports.

Quest, of Aliso Viejo, Calif., has faced mounting competition in its traditional specialty--software for managing databases--as vendors such as Oracle Corp. (ORCL) have introduced their own management tools. Quest Software responded by trying to diversify its business by acquiring smaller rivals.

The private-equity group initially agreed to buy Quest in March for $23 a share, later raising that offer to $25.75 a share, or $2.17 billion.

Dell last week offered $27.50 a share, or about $2.32 billion for Quest. Insight had the opportunity to match or beat the increased offer but struggled to put together financing despite last-minute efforts by Smith, The Wall Street Journal reported citing people familiar with the matter.

Quest last week said Dell's offer was superior without identifying the bidder.

The deal is expected to close in Dell's fiscal third quarter.

"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. "Quest's suite of industry-leading software products, highly talented team members and unique intellectual property will position us well in the largest and fastest growing areas of the software industry."

Quest is the latest in a string of deals as it looks to expand past its core business of selling PCs. Dell earlier this year formed a unit dedicated to selling software and hired Swainson, the former head of CA Inc. (CA), to run it. Dell has announced several acquisitions this year, including security firm Sonicwall Inc. and "cloud computing" specialist Wyse Technology Inc.

The fight over Quest echoes a similar battle Dell waged for high-end data-storage maker 3Par Inc. in 2010. Dell eventually bowed out after Hewlett-Packard Co. (HPQ) bid $1.6 billion for the company, which makes rapidly accessible storage drives that allow corporations to run more efficient databases.

Shares of Quest slipped 0.4% to $27.70 in recent premarket trade as shares of Dell rose 1% to $12.63. Quest's stock is up 50% so far this year, while Dell's has fallen 14% in the same time period.

Write to Victoria Stilwell at Victoria.Stilwell@dowjones.com

(END) Dow Jones Newswires

July 02, 2012 09:18 ET (13:18 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
18 dec
VELO
Gennemgang og analyse af Veloxis' søgsmålJeg har brugt min aften på at "hygge" mig med Veloxis netop..
67
20 dec
 
Det er meget velbeskrevet i talrige bøger og artikler, at tilstandene i store dele af verden udenfor..
49
18 dec
VWS
Normal 0 21 false false false DA X-NONE X-NONE ..
30
18 dec
GEN
Med FDA´s godkendelse af Amgens (Micromet) godkendelse af Blincyto (blinatumomab), fik vi for alvor ..
27
18 dec
PNDORA
Nu har jeg købt og solgt aktier i 8 år og var os her på debatten for 4-5 år siden men har glemt mit ..
24
18 dec
 
  Jeg er gratist, jeg læser med på EI uden at skrive. Det er sjældent, man kan få gratis lunch; men ..
13
21 dec
MY
Det er jo en ejendommelig debat, der er kommet ud af det spørgsmål. Der er jo ingen, der nogensinde ..
11
15 dec
GEN
Genmab har afholdt bestyrelsesmøde og valgt at give bestyrelse, direktion og ledende medarbejdere op..
11
20 dec
VWS
Det er nemt at lave en hurtig statistik over perioden fra medio December til medio Januar, på basis ..
10
20 dec
VWS
Kære Mena: Her definationen af et JV: http://da.wikipedia.org/wiki/Joint_venture   "Parterne er også..
10

G4S: Black Friday og jul skaber travlhed hos Cash Solutions

22-12-2014 12:14:13
G4S' værdihåndteringsdivision, Cash Solutions, havde mere travlt end nogensinde fredag den 28. november, hvor det amerikanske fænomen Black Friday, der sparker ..

Aktier/middag: Vestas fester, mens B&O er i kulkælderen

22-12-2014 11:30:03
Det danske aktiemarked er positivt stemt mandag, hvor Vestas fører an i et let stigende C20-indeks. Baggrunden er, at Vestas har fået den første kommercielle or..

Aktier/tendens: Positiv åbning i vente - B&O og Vestas i fokus

22-12-2014 08:34:15
Bang & Olufsen vil være i fokus fra åbningen på det danske aktiemarked mandag, efter at selskabet mandag morgen nedjusterede forventningerne til til regnskabsår..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Aktier/tendens: Positiv åbning i vente - B&O og Vestas i fokus
2
AaB: Succestræner stopper til sommer
3
Vestas/Sydbank: Vingeoutsourcing i Kina giver god mening
4
MHI Vestas Offshore vinder første ordre på sin V164-mølle
5
Aktier/middag: Vestas fester, mens B&O er i kulkælderen

Copyright Euroinvestor A/S 2014  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
22. december 2014 15:54:57
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20141219.2 - EUROWEB7 - 2014-12-22 15:54:57 - 2014-12-22 15:54:57 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x