Quest Reaches $2B Acquisition Agreement With Private Equity Firm

Quest Software Inc. (NASDAQ: QSFT) reached a buyout agreement with affiliates of Insight Venture Partners and will become a privately held company.

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The company said Friday that shareholders will receive $23 per share and the company values its total share value at nearly $2 billion.

Quest Chairman and CEO Vinny Smith will continue to hold both titles and senior company management will retain their roles.

Smith was appointed CEO Feb. 15 and has served on the company board since 1998.

Quest said the purchase price represents a 19-percent premium to the closing price on March 8, 2012.

The transaction will be financed through a combination of a $210 million equity commitment from Insight, a rollover of Smith’s existing shares and $1.195 billion of debt financing commitments.

 

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