Dell buys Quest Software in cash deal worth $2.4bn
Dell has laid the foundation for a broader move into software with a $2.4 billion all-cash acquisition that will accelerate the US company’s push beyond its core personal computer business.
The purchase of Quest Software, revealed yesterday, will serve as the platform for future deals, according to John Swainson, president of software at Dell.
A long-time IBM executive and former chief executive of software maker CA, Mr Swainson was brought in by Dell last year to help its expansion beyond hardware, which accounts for about 87 per cent of its revenues, while also bringing a larger base of repeat revenues. The push into software is also designed to take Dell into higher-margin markets, Mr Swainson said. – Copyright The Financial Times Limited 2012