NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
More news: Software
Written by / Agency / Source: Quest Software, Inc. | Dell
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Clearlake Capital to Acquire Global Cybersecurity, Data Intelligence and IT Operations Management Software Leader Quest from Francisco Partners - Quest Software announced it signed a definitive agreement with Clearlake Capital Group, L.P. (together with certain of its affiliates,“Clearlake”) to acquire the Company from Francisco Partners - Clearlake.com / FranciscoPartners.com / Quest.com
Clearlake Capital to Acquire Global Cybersecurity, Data Intelligence and IT Operations Management Software Leader Quest from Francisco Partners

 

NewswireToday - /newswire/ - Santa Monica, CA, United States, 2021/11/29 - Quest Software announced it signed a definitive agreement with Clearlake Capital Group, L.P. (together with certain of its affiliates,“Clearlake”) to acquire the Company from Francisco Partners - Clearlake.com / FranciscoPartners.com / Quest.com. NASDAQ: QSFT

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

• Investment to Accelerate Growth and Drive Continued SaaS Bookings Momentum in One Identity/OneLogin, the Industry’s Most Comprehensive Unified Identity Cybersecurity Software Platform;
• New Platform Investment to Drive Robust Buy-and-Build Strategy and Support Quest Customers and Partners through Digital Transformation in Cybersecurity, Data Intelligence, and IT Operations.

Quest Software (“Quest” or the “Company”), a global cybersecurity, data intelligence, and IT operations management software provider, announced it signed a definitive agreement with Clearlake Capital Group, L.P. (together with certain of its affiliates,“Clearlake”) to acquire the Company from Francisco Partners. Patrick Nichols, current CEO of Quest, will continue to lead the Company supported by the existing executive management team. Upon closing of the transaction, Clearlake will become the majority shareholder in Quest. The terms of the transaction were not disclosed.

“We have long admired Quest as a leading identity-centric cybersecurity, data intelligence, and IT operations management software platform and the Company’s software solutions that help secure enterprise IT environments,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “We are excited to partner with Patrick and Carolyn McCarthy, Quest’s CFO, to utilize Clearlake’s O.P.S.® framework to help the Company strengthen its strategic growth plans including best practices to accelerate cloud/SaaS adoption and support its buy-and-build strategy.”

"IT teams worldwide rely on Quest to help them solve critical challenges that enable business growth and address crucial strategic initiatives. Quest has evolved to become a market leader in identity-centric cybersecurity, data intelligence, and IT operations management and I want to thank Francisco Partners for helping Quest realize this vision,” said Patrick Nichols, CEO of Quest. “Our new partnership with Clearlake will accelerate Quest's momentum as a leader and innovator as we increase our investment pace in our core product roadmaps, cloud/SaaS offerings, and global presence. We will continue to expand our customer base as computing environments and related management, modernization, and security challenges, become more complex.”

“We are proud of the tremendous progress Quest has made since re-launching as an independent company, and I want to recognize Patrick Nichols and the management team for strong execution,” said Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Partners. “We have a long and successful track record executing divisional carve-out transactions and are grateful to have had the opportunity to work with the Quest team to create value for the company, its customers, and its partners. We wish the Quest organization well in their new partnership with Clearlake.

Founded in 1987, Quest Software has built a reputation over three decades as a critical software solution provider for security-sensitive customers and a leader of innovation addressing rapidly evolving risks and security threats. Quest enables today's edgeless IT ecosystem across people, applications, and data to endpoints allowing customers to maintain controls, mitigate and contain security threats proactively, and maintain operational up-time while decreasing costs.

Quest's key business segments include:

• One Identity and OneLogin, making Quest the only identity-centric cybersecurity software vendor providing industry-recognized leading solutions across all aspects of a unified identity security and management approach crucial to taming identity sprawl and addressing identity-based attacks.
• Platform Management for Microsoft®, which provides software for IT operations resilience and flexibility while enabling organizations to stay in control by securing and managing Active Directory.
• Information Management and erwin by Quest, a pioneer and leading provider of data operations and intelligence software solutions that modernize infrastructure, optimize performance and deliver applications faster, with offerings including Toad for Oracle®, erwin Data Modeler, erwin Data Intelligence, Foglight, ApexSQL and SharePlex®.
• Data protection and endpoint management software solutions to control data growth and optimize system availability with NetVault, QoreStore, and Kace® offerings.

“It has been a pleasure partnering with Patrick and the entire management team at Quest in scaling the business both organically and through strategic acquisitions,” said Brian Decker, Partner and Christine Wang, Principal at Francisco Partners. “Since our partnership with the Company, Quest has evolved to become an innovative leader in the cybersecurity, data intelligence and IT operations management markets delivering significant value to its customers and partners.”

“With a robust portfolio of market-leading software and SaaS solutions alongside a rich history of product innovation, we believe Quest is well positioned to capitalize on emerging growth trends in identity-centric cybersecurity, data intelligence and IT operations management software markets,” said Prashant Mehrotra, Partner, and Paul Huber, Principal at Clearlake. “Now with significant scale and completely independent, Quest is strategically differentiated in the market as a buy-and-build platform and industry consolidator, and we’re thrilled to partner with Patrick, Carolyn and the management team to help Quest accelerate growth organically and through M&A.”

The transaction is expected to close in the first quarter of 2022, pending customary regulatory approvals and closing conditions. Goldman Sachs acted as sole lead financial advisor to Quest. J.P. Morgan also acted as financial advisor and Paul Hastings LLP acted as legal advisor to Quest.

Silicon Valley Tech Investment Bank and Morgan Stanley along with BoA Securities, Barclays, Evercore, and William Blair acted as financial advisors to Clearlake. Sidley Austin LLP acted as legal advisor to Clearlake.

Goldman Sachs, Morgan Stanley, BoA Securities, Barclays, Credit Suisse, BMO Capital Markets and Citigroup provided committed debt financing for the transaction.

About Quest

Quest (quest.com) creates software solutions that make the benefits of new technology real in an increasingly complex IT landscape. Quest helps customers solve their next IT challenge, from database and systems management to Active Directory and Office 365 management and cybersecurity resilience. Around the globe, managing over 250 million identities, more than 100,000 customers, 15,000 partners and 97 of the Fortune 100 count on Quest to deliver proactive management and monitoring for the next enterprise initiative, find the next solution for complex Microsoft challenges, and stay ahead of the next threat. Quest Software. Where next meets now.

About Clearlake

Clearlake Capital Group, L.P. (clearlake.com) is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $55 billion of assets under management and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas.

About Francisco Partners

Francisco Partners (franciscopartners.com) is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $30 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.

Media contacts:
For Clearlake: Jennifer Hurson - Lambert & Co.
P: 845-507-0571 - E: jhurson[.]lambert.com.

For Francisco Partners: Kate Sylvester - Sloane & Company
P: 212-446-1860 - E: ksylvester[.]sloanepr.com.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Quest Software, Inc. | Dell

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


Clearlake Capital to Acquire Global Cybersecurity, Data Intelligence and IT Operations Management Software Leader Quest from Francisco Partners

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Mariah Gauthier - Highwire PR for Quest 
951-314-0760 mariah[.]highwirepr.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Quest Software, Inc. | Dell securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Quest Software, Inc. | Dell / Company Profile


Read Software Most Recent Related Newswires:

SAP and Icertis Expand Partnership to Deliver Enterprise Contract Intelligence
Infor Announces New Infor Marketplace
New Oracle Cloud Infrastructure Services Authorized for the US Government
InterSystems Positioned in the Challengers Quadrant of the 2021 Gartner® Magic Quadrant™ for Cloud Database Management Systems
Oracle Opens First Cloud Region in Africa
Xerox Selects Oracle Cloud to Launch New Businesses Focused on Solving Complex Problems At Scale
Frost & Sullivan Selects KPIT Technologies for the Prestigious 2021 Global Over-the-air (OTA) & Cloud Platform Technology Innovation Leadership Award
Cornerstone Tops Industry Reports for Learning and Talent Experience Innovations
The Mill and MPC Advertising Unite Under the Mill Brand to Create the World’s Largest VFX Studio for the Advertising & Brand Experience Industries
Aptean Expands in Austria with Acquisition of JET ERP
Siemens Extends Mechanical Performance Prediction Leadership with Simcenter 3D 2022.1
Axiell Announces Agreement to Acquire Infor Library & Information Solutions Business and Expand Global Presence
Aptean Expands UK Presence and Offerings through Acquisition of Systems Integration (Trading) Limited
Oracle Buys Cerner
Yardi Acquires & Redesigns Innovative CRE Listing Service 42Floors.com

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Limelon Advertising, Co.

Visit  JobsWare.com





 
  ©2022 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)