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SOA & WOA: Article

Cloud Computing: Insight Reportedly Tops Mystery Bid for Quest

The mystery bid bettered the $23-a-share offer Insight made in March

If the mystery bidder for Quest Software is Dell as Reuters claims then Dell is going to have to fight for the prize if it really wants it because Insight Venture Partners has topped the $25.50-a-share cash bid Quest got last week, according to what a source told Bloomberg.

The mystery bid bettered the $23-a-share offer Insight made in March.

Quest's stock was trading at $26.74 Tuesday giving it a market cap of $2.25 billion. The mystery bid was good for $2.15 billion. JP Morgan has said the company is worth $28 a share or around $2.36 billion.

Dell last week told analysts that it meant to use deals to boost revenue from data center hardware, software and services by 45% to $27.5 billion by fiscal 2016 to get out from under its dependence on PCs.

The last bidding war Dell was in was in 2010 when HP wound up paying a very steep $2.35 billion for 3Par, the storage company. Michael Dell subsequently told Bloomberg HP overpaid and that he was glad he dropped out.

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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