updated 07/03/2012 9:30AM
Aliso Viejo-based software company bought by Dell
Quest Software of Aliso Viejo, an IT and software services firm, will be acquired by Dell in a $2.4 billion deal to create Dell Software Group. The acquisition creates a software component for Dell, a global hardware computer manufacturer.
Quest, which serves more than 100,000 customers worldwide, provides security and business software products and services, generating $857 million in global revenue. The 1,500 software experts and 1,300 software developers currently working for Quest will be added to Dell’s workforce.
“Clearly, Dell’s distribution, reach and brand are well recognized in the industry. Combine that with Quest’s software expertise and award-winning systems management products and you have a very powerful combination for our customers and partners,” said Vinny Smith, chairman and chief executive officer of Quest Software. “With this transaction, Quest’s products and employees become the foundation for Dell’s critical software business.”
The sale, in which Dell will pay $28 for each share of Quest, is expected to be finished by Dell’s third fiscal quarter and is subject to approval by Quest shareholders. The purchase is intended to create a Dell Software Group that owns its intellectual property outright.
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