November 1, 2016: Francisco Partners, a leading technology-focused private equity firm, and Elliott Management Corporation today announced the completion of the Dell Software Group acquisition and the relaunch of Quest as a new standalone company. A globally recognized software brand with a nearly 30-year heritage, Quest will focus on expanding its IT and cloud management portfolio solutions to include SaaS solutions for the cloud era. Coupled with Quest’s systems and security management software expertise and market leadership, the company will continue to invest in developing the software solutions, both on-premises and SaaS, that empower its 100,000 customers worldwide to drive their business growth. Quest will continue its leadership with an unrelenting focus on innovation, community and customer success.
“Along with our partners at Elliott Management, we’re excited to officially relaunch Quest today as a standalone software company,” said Dipanjan “DJ” Deb, chief executive officer, Francisco Partners. “Quest has a long and successful software heritage, and a fiercely loyal community of employees, customers, and partners. We look forward to this new chapter for Quest and are confident the team will continue innovating on behalf of customers, while driving profitable growth for the company.”
The constantly evolving security, IT and cloud management landscape increases the demands on today’s IT professionals to build more robust, more secure and more nimble IT infrastructures. Quest’s solutions reduce the time, effort and ultimately money spent on IT administration and development and open opportunities for increased focus and investment on business innovation.
The Quest solutions address critical areas of security, IT and cloud management such as database management, data protection, endpoint systems management, identity and access management, and Microsoft platform management. As a result, customers are empowered to secure the infrastructure, automate complex processes, optimize application experiences, and enable data-driven decision-making, all while modernizing for the cloud.
Quest will take a fresh look at opportunities to best serve customers across diverse product solution areas by expanding its routes to market across the business. This includes working closely with channel partners across all areas of the portfolio, as well as enabling a global ecosystem of system integrators to assist in deploying Quest solutions like those from the identity and access management and Microsoft platform management portfolios. This will provide customers a choice to work either directly with Quest or with a trusted partner of their choosing. The company is committed to making it simple for customers and partners to work with Quest and to continue delivering quality products and exceptional support and services.
Quest is led by chairman and chief executive officer Jeff Hawn, who brings more than 15 years of experience as a software company executive. Previously, Hawn was chairman and CEO of Vertafore, a software provider for the insurance industry, and prior to that was chairman and CEO of the Attachmate Group, a provider of identity and infrastructure enterprise software.
“As companies continue to embrace business transformation, particularly through adopting cloud-centric technology models, they need a trusted partner through this critical journey,” said Hawn. “In relaunching Quest, our products will be purpose-built and backed by a level of support and services that will help our customers and partners succeed. We’ll take the best of what made Quest a market maker for the past 30 years and infuse a renewed focus on security and cloud.”
“The Quest business structure gives the One Identity group the flexibility they need to successfully compete in the IAM market,” said Martin Kuppinger, CEO of KuppingerCole, a leading analyst firm for identity and access management. “All teams, from product development to sales and services, are now fully focused on their core business. In the new setting, we see a strong opportunity for One Identity to grow faster and with greater agility.”
Quest today counts more than 100,000 customers worldwide, and boasts a portfolio full of more than 100 innovative, market-leading solutions, including:
Quest helps solve the complex technology and security problems that stand in the way of organizations’ ability to always be ready for what’s next. With Quest solutions, companies of all sizes can reduce the time and money spent on IT administration and security, so they have more time to focus on and invest in business innovation. Quest has more than 100,000 customers worldwide across its portfolio of software solutions spanning database management, data protection, endpoint systems management, identity and access management, and Microsoft platform management. For more information, visit www.quest.com.
About Francisco Partners
Francisco Partners is a leading global private equity firm, which specializes in investments in technology and technology-enabled services businesses. Since its launch over 15 years ago, Francisco Partners has raised approximately $10 billion in capital and invested in more than 150 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in transaction values ranging from $50 million to over $2 billion, where the firm's deep sectoral knowledge and operational expertise can help companies realize their full potential.
About Elliott Management
Elliott Management Corporation manages two multi-strategy hedge funds which combined have approximately $29 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977 making it one of the oldest hedge funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of funds, high net worth individuals and families, and employees of the firm. This investment is being led out of Evergreen Coast Capital, Elliott’s Menlo Park affiliate, which focuses on technology investing.