Technology firm Quest Software has agreed to be acquired by Insight Ventures Partners for $2bn.
Quest Software, which employs a workforce of 3,850, sells enterprise software, information technology management solutions and related services, according to Los Angeles Times.
Included among Aliso Viejo-based company’s clients are Papa John’s, Amway, the University of Massachusetts Medical School, among others.
Insight Venture Partners is a private equity and venture capital firm focused on software, internet and data-services industries.
Quest chairman and chief executive Vinny Smith would continue to lead the company and the senior mangement team will also remain.
Smith said as a private company, Quest will have increased flexibility to drive innovation across our product lines and execute its long-term strategy.
"This move to a private company also will create exciting career opportunities for our employees, while retaining our commitment to continuing to provide excellent service to our customers," said Smith.
The agreement also includes a 60-day go-shop period during which a special committee at Quest ‘will actively’ solicit and evaluate alternative buyout proposals.
