Tags: insight | quest | software | buyout

Insight Said to Top Buyout Offer for Quest Software

Monday, 18 June 2012 03:58 PM

Insight Venture Partners topped a $25.50-a-share bid that Quest Software Inc. received from an unidentified strategic bidder, according to a person familiar with matter who asked not to be named because the negotiations are private.

Quest, a maker of tools to help companies manage computer systems, said last week that it got a bid that exceeded a March offer of $23 a share, or about $2 billion, from Insight, a private equity and venture capital firm. After that proposal was announced March 9, Quest said it received other offers during a so-called “go-shop” period.

Dell Inc. was in discussions to buy Quest, though negotiations broke down, a person familiar with the matter said on June 1. Reuters reported last week that the unidentified strategic bidder was Dell.

Representatives from Insight and Quest didn’t immediately respond to requests for comment. David Frink, a spokesman for Dell, declined to comment.

Shares of Aliso Viejo, California-based Quest rose 1.5 percent to $26.59 at 2:48 p.m. in New York. The stock had climbed 41 percent this year through June 15.

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Monday, 18 June 2012 03:58 PM
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