Quest To Buy Data Protection Software Company BakBone For $55 Million

Tuesday, 09 November 2010 15:25

Quest To Buy Data Protection Software Company BakBone For $55 Million

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Quest Software is to acquire BakBone Software, a San Diego, CA-based provider of data protection software. Quest in a statement says it expects to pay approximately $55 million, including the payment of certain debt obligations and net of anticipated cash on hand. BakBone shareholders will

receive $0.33 per common share and $1.29 per preferred share following the closing of the acquisition, which is expected to occur in the first quarter of 2011.