Quest to Buy BakBone Software for Data Protection

Enterprise Storage Forum content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

The consolidation of the storage industry continues as Quest Software today announced that it has signed a definitive agreement to acquire data protection specialist BakBone Software for $55 million.

Headquartered in San Diego, Calif., BakBone(OTC Bulletin Board: BKBO) makes real-time continuous data protection (CDP), deduplication, replication, disk-based and tape backup and recovery software under the NetVault moniker.

Quest Software (NASDAQ: QSFT) plans to marry BakBone’s heterogeneous data protection technologies with its own portfolio of data protection products for virtual, database and application-level data, including vRanger Pro; LiteSpeed for Microsoft SQL Server and Oracle; Recovery Manager for Microsoft Exchange; SharePoint; Active Directory; and SharePlex for Oracle.

According to a statement, Quest expects to pay approximately $55 million for BakBone, including the payment of certain debt obligations and net of anticipated cash on hand. BakBone shareholders will receive $0.33 per common share and $1.29 per preferred share following the closing of the acquisition.

Doug Garn, CEO and president of Quest Software, said, “Our respective products are highly complementary, with minimal overlap. The value received from BakBone’s employees, technologies, partners and customers is expected to be a key benefit as we seek to expand our market share in the data protection market by building upon our core portfolio.”

Under the terms of the deal, which has been approved by the boards of directors of both BakBone and Quest, the acquisition will be conducted by way of a statutory plan of arrangement under the Canada Business Corporations Act and will require approval of the BakBone security holders and the Court of Queen’s Bench of Alberta. The closing of the acquisition, which is subject to customary closing conditions, is expected to occur in the first quarter of 2011.

Follow Enterprise Storage Forum on Twitter.

Kevin Komiega
Kevin Komiega
Kevin Komiega is an Enterprise Storage Forum contributor.
Get the Free Newsletter!
Subscribe to Cloud Insider for top news, trends & analysis
This email address is invalid.
Get the Free Newsletter!
Subscribe to Cloud Insider for top news, trends & analysis
This email address is invalid.

Latest Articles

Is DAS or NAS More Secure? Comparing DAS vs NAS Security

Compare the security of DAS (Direct Attached Storage) and NAS (Network Attached Storage). Learn the key differences & security features now.

Comparing SSD vs HDD Speed: Which Is Faster?

SSDs and HDDs both have their advantages and disadvantages when it comes to speed. Learn about the differences between the two.

What Is Hyperconverged Storage? Uses & Benefits

Hyperconverged Storage is an IT infrastructure model that uses a combination of server and storage virtualization. Learn more about its uses and benefits.