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| Dell to acquire Quest Software for USD 2.4 bn |
| Wednesday, 04 July 2012 | |
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Dell Inc is set to acquire Quest Software in an all-cash Rs 13200 crore (USD 2.4 billion) deal, a move that would bolster the computer maker's software capabilities. Both Dell and Quest have good presence in India. The two companies have entered into an agreement for the deal, approved by their respective boards of directors. Dell will pay Rs 1540 (USD 28) per share in cash for each share of Quest for an aggregate purchase price of approximately Rs 13200 crore (USD 2.4 billion), net of Quest's cash and debt. Dell struck the deal surpassing competitive bidding from private equity player, Insight Venture Partners. Subject to shareholders' and regulatory approvals, the deal is expected to be completed in the third quarter of Dell's fiscal year. "The addition of Quest will enable Dell to deliver more competitive server, storage, networking and end user computing solutions and services to customers," Dell Software Group President John Swainson said. Quest has about 3,850 employees and operates 60 offices in 23 countries. - Communications Today Bureau |
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