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Apps & Software

Software Bidding War Continues (QSFT, ORCL, VMW)

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By Jon C. Ogg Updated Published
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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

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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