Dell to acquire Quest Software for USD 2.4 bn

The two companies have entered into an agreement for the deal,approved by their respective boards of directors,Dell said in a statement today.

8220;Dell will pay USD 28 per share in cash for each share of Quest for an aggregate purchase price of approximately USD 2.4 billion,net of Quest8217;s cash and debt,8221; it said.

The computer maker struck the deal surpassing competitive bidding from private equity player,Insight Venture Partners.

Subject to shareholders8217; and regulatory approvals,the deal is expected to be completed in the third quarter of Dell8217;s fiscal year.

8220;The addition of Quest will enable Dell to deliver more competitive server,storage,networking and end user computing solutions and services to customers,8221; Dell Software Group President John Swainson said.

Quest has about 3,850 employees and operates 60 offices in 23 countries.

8220;The acquisition provides critical components to expand Dell8217;s software capabilities in systems management,security,data protection and workspace management,8221; the statement noted.

Further,Quest8217;s software portfolio is 8220;highly complementary8221; to Dell8217;s scalable design approach to develop solutions that scale with customer needs,it added.

Recently,Dell formed its software group,aimed at boosting the company8217;s enterprise solutions capability,among others.