Quest Software acquires data protection provider - BakBone
Quest Software, (Nasdaq: QSFT) today announced that it has acquired BakBone Software, a provider of data protection software headquartered in San Diego, California. The acquisition is expected to give Quest additional technologies to offer data protection across heterogeneous physical, virtual and application-level environments. BakBone shareholders received $0.33 per common share and $1.29 per preferred share, informed the company.
“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,” remarked Doug Garn, CEO and president, Quest Software.
The acquisition, as stated by Quest, 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.
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.
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