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Quest Software Agrees to be Acquired by Dell (DELL, QSFT)

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Following weeks of speculation, personal computer maker Dell Inc. (NASDAQ:DELL) today confirmed that it would acquire Quest Software Inc. (NASDAQ: QSFT).

Dell agreed to acquire QSFT for $28 per share in an all-cash transaction. The deal ends a bidding war that was heating up between Dell and private equity firm Insight Venture Partners. The acquisition would allow the Round Rock, Texas-based company to expand its existing software expertise.

Dell had recently created its Software Group, with the aim of adding to the company’s solution capability, accelerating growth and differentiating itself from competitors.

Quest Software, which holds a diversified software portfolio, had global revenue of $857 million in fiscal 2011. QSFT had initially agreed to a $23 per share takeover offer from Insight Venture Partners on March 8. Following the Insight Venture offer, QSFT received takeover offers from several companies, forcing Insight Venture to raise its original offer.

Last week, Quest Software said that it received a $27.50 per share offer. Although QSFT did not identify the company last week, people with knowledge of the matter said it was Dell.

Dell finally ended all the speculation by confirming today that it is acquiring Quest Software.

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