Thursday, September 19, 2024

Vector Joins Insight to Sweeten Quest Software Bid

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Datamation Staff
By Datamation Staff

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The Wall Street Journal: Quest Software has announced that it has received a new offer from Insight Venture Partners, which will be joined in the buyout bid by Vector Capital. The two private-equity firms will offer $25.75 per share, or approximately $2.17 billion to purchase Quest. That beats an earlier offer of $25.50 for the company; it was widely reported that Dell made the $25.50 per share bid. Insight Venture Partners originally offered to buy Quest for $23 per share in March.

Quest has agreed to pay a $25 million termination fee if the most recent deal does not go through.

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