Dell closes $2.4 billion buyout of Quest Software
ROUND ROCK, Texas (AP) — Dell Inc. said Friday that it completed its $2.4 billion acquisition of Quest Software.
Round Rock, Texas-based Dell said it would buy the IT management software maker for $28 per share deal in July. The move is in an effort to expand the company's offerings beyond personal computers, which have dropped in popularity with the rise of smartphones and tablets.
Industry observers say the deal could take Dell deeper into server, networking and storage service business. It marks Dell's biggest acquisition since it bought technology consulting firm Perot Systems for $3.9 billion in 2009.
The Aliso Viejo, Calif.-based company has more than 100,000 customers, 1,500 software sales and marketing experts and 1,300 software developers.
Dell said it expects the acquisition to reduce its adjusted fiscal 2013 net income by 2 or 3 cents per share and fiscal 2014 net income by 4 to 5 cents per share. But the addition of Quest should boost its results in 2015.
Shares of Dell Inc. closed Thursday at $10.04, down 31 percent since the start of the year.