ALISO VIEJO, Calif., Jan. 18, 2011 – Quest Software, Inc. (Nasdaq: QSFT) today announced the completion of its acquisition of BakBone Software Incorporated, a leading provider of data protection software headquartered in San Diego, California. The acquisition gives Quest additional technologies to offer data protection across heterogeneous physical, virtual and application-level environments, enabling organizations to support expanding data protection needs while simplifying data protection processes. BakBone shareholders received $0.33 per common share and $1.29 per preferred share.
“Continuous data protection is a major challenge for all organizations, as the sheer volume of data being generated continues to grow,” said Doug Garn, CEO and president of Quest Software. “Adding BakBone technologies to our existing portfolio of data protection products enables Quest to deliver an integrated, best-of-breed set of solutions appropriate for all organizations – from small businesses to large enterprises. Our customers will reap the benefits, as we give them comprehensive data protection coverage at a lower total cost of ownership, and with the added bonus of world-class customer support.”
The acquisition was conducted by way of a statutory plan of arrangement under the Canada Business Corporations Act. It was approved by BakBone’s shareholders and the Court of Queen’s Bench of Alberta.
“The BakBone acquisition complements Quest Software’s growing storage management portfolio, which includes products such as vRanger and LiteSpeed,” said Lauren Whitehouse, senior analyst at Enterprise Strategy Group. “BakBone’s technology, such as deduplication, tape media management, and backup and replication support for physical systems will enhance Quest’s solutions, providing Quest a feature ‘leap frog’ to be competitive in heterogeneous environments.”
BakBone offers four products under the NetVault brand that provide continuous data protection, deduplication, replication, and disk-based and tape backup. Quest will market and sell the BakBone solutions, rebranded as Quest NetVault, as both a suite and individually available solutions. Quest NetVault will help organizations reduce the amount of data required for backups while gaining scalability and improving ease of use for administrators.
Quest will unveil its strategic roadmap for the future of the BakBone solution set and its complementary data protection solutions by the end of the first quarter of 2011.
About Quest Software, Inc.
Quest Software (Nasdaq: QSFT) simplifies and reduces the cost of managing IT for more than 100,000 customers worldwide. Our innovations make solving the toughest IT management problems easier, enabling customers to save time and money across physical, virtual and cloud environments. For more information about Quest solutions for application management, database management, Windows management, and IT management, go to www.quest.com.
Quest and Quest Software are trademarks or registered trademarks of Quest Software, Inc. The Quest Software logo and all other Quest Software product or service names and slogans are registered trademarks or trademarks of Quest Software, Inc. All other trademarks and registered trademarks are property of their respective owners.
This press release includes predictions, statements and other information relating to Quest’s acquisition of BakBone that might be considered forward-looking statements. These forward-looking statements relate, but are not limited to, the combination of BakBone’s technologies with Quest’s product offerings, and the capabilities of such technologies and offerings and future benefits to Quest’s customers.These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including risks that the transaction or related integration activity may disrupt current plans, projects and operations, and Quest’s ability to recognize the benefits of the acquisition. Other risks and uncertainties that may affect forward-looking statements include: reductions or delays in information technology spending; adverse changes in general economic or market conditions; risks associated with foreign operations; competitive factors, including industry consolidation and new product and marketing initiatives by Quest’s competitors; Quest’s ability to retain existing personnel and recruit and retain qualified personnel; and other risks described from time to time in Quest’s and BakBone’s filings with the SEC. For a discussion of these and other related risks, please refer to Quest’s and BakBone’s recent SEC filings, including Quest’s Annual Report on Form 10-K for the year ended December 31, 2009 and BakBone’s Annual Report on Form 10-K for the fiscal year ended March 31, 2010, which are available on the SEC's website at www.sec.gov, and in the case of BakBone, on SEDAR. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Quest undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.Editorial Contact:Ken Montgomery949.firstname.lastname@example.orgInvestor Contact:Stephen Wideman949.email@example.com
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