Summary Box: Quest Software taken private
THE DEAL: Quest Software said Friday that it's being bought by investment firm Insight Venture Partners for $23 per share, which the company says values it at $2 billion.
THE NUMBERS: Insight is putting up $210 million and borrowing $1.2 billion to pay for the shares outstanding, not including CEO Vinny Smith's 34 percent stake. Smith is rolling his stake over into the private company, and will remain as CEO. He owns 28.3 million shares, which are worth about $549 million, according to FactSet.
THE COMPANY: Aliso Viejo, Calif.-based Quest provides corporate IT services including database management.
© 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. THE NUMBERS: Insight is putting up $210 million and borrowing $1.2 billion to pay for the shares outstanding, not including CEO Vinny Smith's 34 percent stake. Smith is rolling his stake over into the private company, and will remain as CEO. He owns 28.3 million shares, which are worth about $549 million, according to FactSet.
THE COMPANY: Aliso Viejo, Calif.-based Quest provides corporate IT services including database management.
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