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Enterprise Security Magazine | Monday, December 13, 2021
New platform investment to support quest customers and partners during digital transformation in cybersecurity, data intelligence, and operations.
FREMONT, CA: "I.T. 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 I.T. operations management and I want to thank Francisco Partners for helping Quest realize this vision," states Patrick Nichols, CEO of QuestSoftware.
Quest Software, a global provider of cybersecurity, data intelligence, and I.T. operations management software, has entered into a definitive agreement with Clearlake Capital Group, L.P. to acquire the Company from Francisco Partners. Patrick Nichols, the Company's current CEO, will continue to oversee the business alongside the existing top management team. Clearlake will become the dominant shareholder in Quest upon the transaction's completion. The transaction's terms were not disclosed. "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." adds Nichols.
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"We have long admired Quest as a leading identity-centric cybersecurity, data intelligence, and I.T. operations management software platform and the Company's software solutions that help secure enterprise I.T. environments," states BehdadEghbali, 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."
Since its founding in 1987, Quest Software has established a reputation as a crucial software solution supplier for security-sensitive businesses and a thought leader in addressing quickly increasing risks and security threats. Quest enables today's edgeless I.T. environment—from people to apps and data to endpoints—by enabling businesses to maintain controls, proactively mitigate and manage security threats, and ensure operational uptime while lowering costs.
"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," states Dipanjan "D.J." 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."
"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 I.T. operations management software markets," states 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."
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