Quest Software completes acquisition of BakBone
Quest Software has announced the completion of its acquisition of BakBone Software Incorporated. 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."
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.
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.
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