Clearlake Capital to buy Quest Software from Francisco Partners – WSJ

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Nov 28 (Businesshala) – Private equity firm Clearlake Capital has struck a deal from Francisco Partners to buy Quest Software Inc., valued at $5.4 billion including debt, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Is.

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A formal announcement of the deal is expected on Monday, the report said.

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Quest was part of Dell’s software division, which the company split in 2016 to focus on its technology portfolio and strengthen its balance sheet after agreeing to buy data storage company EMC in October for $67 billion. Was.

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Quest provides software solutions to IT departments spanning from database management to data security.

Clearlake, Quest and Francisco Partners did not immediately respond to Businesshala requests for comment.

The WSJ report said that Clearlake was paying 10.9 times Quest’s earnings before interest, taxes, depreciation and amortization for the past 12 months.

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Reporting by Baranjot Kaur and Shubham Kalia in Bengaluru; Editing by Rashmi Aich

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