Dell buying Quest Software for $2.36 billion

ROUND ROCK, Texas (AP) - Dell is buying Quest Software for about $2.36 billion, ending recent speculation about who the unnamed bidder was in a battle for the company with investment firm Insight Venture Partners.

Quest had agreed to be bought by Insight for $23 per share, or $2 billion, in March, and a series of increasing bids from Insight and another bidder followed.

Dell is paying $28 per share for Quest.

The deal is expected to close in Dell's fiscal third quarter. Quest shareholders must still approve the deal.

The PC maker, which is based in Round Rock, Texas, says the addition of Quest, which helps companies manage databases and provides other corporate IT services, will expand its software offerings.

Quest is based in Aliso Viejo, Calif.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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