Aliso Viejo-based Quest Software plans to go private, in a deal worth $2.0 billion, the firm said this morning. According to Quest, it has reached a deal with Insight Venture Partners, where shareholders will get $23.00 per share to make the company a private company. Quest said the price is a 19 percent premium on the firm's closing price, as of March 8th. Quest detailed the deal Friday morning, saying it also has a 60-day "go shop" period to solicit alternative proposals. The company will continue to be led by Vinny Smith. Smith said, in a statement, that the move would help increase the firm's flexibility and execute on long term strategy and growth.
Top NewsFriday, March 9, 2012
Quest Software To Go Private In $2.0 Billion Deal