Software company's investors OK $2.4 billion takeover by Dell
BY Associated Press
Wednesday, September 26, 2012
9/26/12 at 4:00 AM
Quest Software Inc.'s shareholders on Tuesday approved Dell Inc.'s $2.4 billion acquisition of the company.
Dell announced in July that it was buying the Aliso Viejo, Calif.-based software company in an effort to expand its offerings beyond personal computers. That business has struggled due to the popularity of smartphones and tablets.
The deal could take Dell deeper into the server, networking and storage service business.
Quest is Dell's biggest acquisition since it bought technology consulting firm Perot Systems for $3.9 billion in 2009.
Dell is paying roughly $28 per share to Quest shareholders. Its stock closed at $27.99 on Tuesday.
Shares of Round Rock, Texas-based Dell fell 18 cents to close at $9.98 on the Nasdaq Stock Market.