Quest Software (NASDAQ:QSFT) shares were suspended today pending an announcement that Dell Inc. (NASDAQ:DELL) are to acquire the firm for $28 per share in an all cash deal, valuing the business at $2.4bn.
The announcement appears to bring to an end the bidding war between Insight Venture Partners and Dell Inc.
Under the original deal agreed between Insight Venture Partners and Quest Software, Insight had the right to match any counter offer made for the business, but it now appears that they did not take up this option.
Insight Venture Partners original offer was for $23 per share and then increased to $25.75 per share when Insight teamed up with Vector Capital. However, Dell has now come in and blown those bids out of the water with what appears to be the winning bid of $28 per share.
