Dell Buying Quest Software for $2.4 Billion
Round Rock-based computing company Dell announced a deal to purchase Quest Software for $2.4 billion today.
Founded in 1987, Quest Software offers IT management solutions to corporate clients, including database management, data protection, performance monitoring and more.
The move comes as Dell seeks to expand beyond its original model of personal computer sales.
As Bloomberg reports, “Dell told analysts at a June 13 meeting that it plans to use deals to boost revenue from data-center hardware, software and services by 45 percent to $27.5 billion by fiscal 2016, reducing the company’s reliance on the slow-growing desktop and notebook computer businesses.”
A joint statement from the companies says the purchase is set to close in Dell’s third fiscal quarter this fall, subject to approval from Quest stockholders.