Is Dell Taking Over This Popular Software Company?
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Dell is one of several companies that have reportedly entered bids for the software company after it announced that it had agreed to be bought by Inside Venture Partners for $2 billion back in March. The Aliso Viejo-based company creates software that helps companies manage servers, databases, and retrieve lost data. It also helps clients monitor application performance.
At the close of trading on Thursday, Quest was worth an estimated $2.12 billion. The stock has climbed as much as 35 percent this year thanks to rumors that another company was looking to outbid Insight Venture Partners’ $23 per share offer.
Dell has been looking to diversify its heavily PC-based strategy, acquiring software, computer storage, and network technology companies. The company’s stock has been in a slump, losing 19 percent in the past year. Shares of Dell rose 1.65 percent to $12.66 in midday trading on Friday.
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