| Posted - 03/09/2012 : 11:25:47 AM
| Quest Software, a provider of database applications and other corporate I.T. must-haves, said Friday that it had agreed to be taken private by a New York-based venture capital and private equity firm, Insight Venture Partners.|
The offer, which values Quest at roughly $2 billion, will give shareholders $23 a share in cash, a 19 percent premium to the company’s closing price on Thursday.
Vincent C. Smith, the company’s chief executive, and members of Mr. Smith’s management team will continue to run Quest after it is taken private, and the company’s headquarters will remain in California, the statement said. Mr. Smith owns about 34 percent of the company’s shares.