Computer maker Dell Inc. announced Monday it is buying Quest Software Inc., ending a bidding war that has gone on for more than a month.
Dell, based in Texas, will pay $28 per share, totaling about $2.4 billion, for the Aliso Viejo, Calif., company to bolster its software business as demand for PCs shrinks.
The acquisition of Quest, which makes software for businesses and governments, comes after a series of competing bids, starting when Quest agreed to be acquired by Insight Venture Partners for $23 a share in early March.
Insight and Vector Capital agreed to put up $25.75 per share in mid-June, but a “mystery bidder” followed with $27.50. The unknown bidder was rumored to be Dell.