Quest shareholders approve takeover by Dell

Quest Software shareholders approve Dell's $2.4 billion acquisition of company

Associated Press

ALISO VIEJO, Calif. (AP) -- Quest Software Inc.'s shareholders on Tuesday approved Dell Inc.'s $2.4 billion acquisition of the company.

Dell announced in July that it was buying the software company in an effort to expand its offerings beyond personal computers. That business has struggled due to the popularity of smartphones and tablets. The deal could take Dell deeper into server, networking and storage service business.

Quest is Dell's biggest acquisition since it bought technology consulting firm Perot Systems for $3.9 billion in 2009.

Dell is paying roughly $28 per share to Quest shareholders. Its stock closed at $27.99 on Tuesday.

Dell, based in Round Rock, Texas, expects to complete the acquisition later this year. Its shares fell 18 cents to close at $9.98.

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