Apps & Software
Software Bidding War Continues (QSFT, ORCL, VMW)
Published:
Last Updated:
Quest Software Inc. (NASDAQ: QSFT) remains a premium takeout name in the world of software mergers and buyouts. Bloomberg has reported that Insight Venture Partners has now topped a $25.50 per share buyout offer to acquire Quest. If true, the bid would top the offer received from a strategic bidder earlier this month.
We would note that the report is based upon a “person familiar with matter who asked not to be named” and that seems to be the new normal in M&A rumors. The rumor mill is alive and well.
Quest shares are worth some $2.24 billion as of now after a 1.6% gain to $26.62. The 52-week range before today was $14.61 to $26.73 and the consensus Thomson Reuters price target objective is currently only $23.25 on the stock. The stock trades at 16-times the expected 2012 earnings per share and only about 2.4-times the expected 2012 revenues.
Quest Software develops enterprise systems management software for database management products, including Toad for Oracle Corporation (NASDAQ: ORCL) and cloud databases; another product is vFoglight for performance monitoring and capacity management of complex VMware Inc. (NYSE: VMW) ESX and Hyper-V environments.
JON C. OGG
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
