Friday, February 23, 2024

Quest Software Bid Raised to $2.32 Billion

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The Wall Street Journal: Shortly after receiving a $2.17 billion acquisition bid from Insight Venture Partners and Vector Capital, Quest Software says it has received a $2.32 billion offer from an unnamed “strategic bidder.” Insight made the original bid of $23 a share for Quest back in may, but was later bested by the unknown bidder, which was reported to be Dell. Insight made a new bid of $25.75 after bringing Vector Capital into the deal, but now that bid has been topped by a $27.50 per share bid from the same previous bidder. The Insight Group now has the opportunity to sweeten its bid, if it chooses.

Quest makes data management software.

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