Quest Acquires BakBone
Quest Software (NASDAQ: QSFT), the Aliso Viejo, CA-based developer of application management software, is acquiring San Diego’s BakBone Software, the struggling data protection technology specialist. The companies say their deal is valued at $55 million, including the payment of BakBone’s debt obligations. BakBone, which was built around data storage management technology it had acquired from AT&T, stumbled in a diversification strategy that included its $16 million acquisition of Colorado-based ColdSpark in 2009. BakBone shut down its ColdSpark operation earlier this year. While BakBone was based in San Diego, the company was incorporated in Canada, and the deal will require the additional approval of the BakBone security holders and the Court of Queen’s Bench of Alberta. As a result, the deal is expected to close early next year.