Funding to Velocity up Progress and Drive Continued SaaS Bookings Momentum In a single Id/OneLogin, the Enterprise’s Most Full Unified Id Cybersafety Computer software Platform
New Platform Funding to Drive Strong Buy-and-Construct Method and Assist Quest Clients and Companions by way of Digital Transformation in Cybersafety, Knowledge Intelligence, And that iT Operations
SANTA MONICA, Calif. and ALISO VIEJO, Calif., Nov. 29, 2021 (GLOBE NEWSWIRE) — Quest Computer software (“Quest” or the “Agency”), A worldwide cybersafety, data intelligence, And that iT operations administration software supplier, introduced it signed a definitive settlement with Clearlake Capital Group, L.P. (Collectively with sure of its associates, “Clearlake”) To accumulate The company from Francisco Companions. Patrick Nichols, current CEO of Quest, will proceed To steer The company supported by The prevailing authorities administration group. Upon closing of the transaction, Clearlake will Discover your self to be The majority shareholder in Quest. The time durations of the transaction Weren’t disclosed.
“We now have prolonged admired Quest as A quantity one identity-centric cybersafety, data intelligence, And that iT operations administration software platform and The company’s software options that help safe enterprise IT environments,” said Behdad Eghbali, Co-Fobeneath and Managing Companion at Clearlake. “We’re excited to partner with Patrick and Carolyn McCarthy, Quest’s CFO, to make the most of Clearlake’s O.P.S.® framework To help The company strengthen its strategic growth plans together with biggest practices to accelerate cloud/SaaS adoption and support its buy-and-build strategy.”
“IT groups worldwide DepWind upon Quest To help them clear up essential problems that allow Industry growth and tackle essential strategic initiatives. Quest has superior To Wind up to be a market chief in identity-centric cybersafety, data intelligence, And that iT operations administration And that i even Want to thank Francisco Companions for serving to Quest understand this imaginative and prescient,” said Patrick Nichols, CEO of Quest. “Our new companionship with Clearlake will accelerate Quest’s momentum as A temposetter and innovator as we enhance our investment tempo in our core product roadmaps, cloud/SaaS choices, and worldwide presence. We’ll proceed to increase our buyer base as computing environments and associated administration, modernization, and safety problems, Discover your self to be extra complicated.”
“We’re Joyful with the tremfinishous progress Quest has made since re-launching as an indepfinishent company, And that i need To acinformation Patrick Nichols and the administration group for robust execution,” said Dipanjan “DJ” Deb, Co-Fobeneath and CEO of Francisco Companions. “We now have An extfinished and revenueable monitor doc executing diimaginative and presciental carve-out transactions and are grateful to have had The prospect to work with The search group to create worth for the company, its buyers, and its companions. We want The search group properly Inside their new companionship with Clearlake.”
Based in 1987, Quest Computer software has constructed a popularity over three many years as a essential software reply supplier for safety-delicate buyers and A temposetter of innovation tackleing quickly evolving risks and safety menaces. Quest permits right now’s edgeless IT ecosystem – throughout people, purposes, and data to finishpoints – permitting buyers To take care of administrations, mitigate and include safety menaces proactively, and primarytain operational up-time whereas reducing prices.
Quest’s key Industry segments embrace:
- One Id and OneLogin, making Quest The one identity-centric cybersafety software vfinishor offering industry-acknowledged main options throughout all elements of a unified identity safety and administration strategy essential to taming identity sprawl and tackleing identity-based mostly assaults.
- Platform Management for Microsoft®, which provides software for IT operations resilience And adaptableness whereas enabling groups To primarytain in administration by securing and managing Lively Listing.
- Information Management and erwin by Quest, a pioneer and main supplier Of information operations and intelligence software options that modernize infrastructure, optimize efficiency and ship purposes faster, with choices together with Toad for Oracle®, erwin Knowledge Modeler, erwin Knowledge Intelligence, Foglight, ApexSQL and SharePlex®.
- Knowledge safety and finishpoint administration software options To regulate data growth and optimize system availability with NetVault, QoreStore, and Kace® choices.
“It has been a pleasure partnering with Patrick and The complete administration group at Quest in scaling the Industry each organically And by way of strategic acquisitions,” said Brian Decker, Companion and Christine Wang, Principal at Francisco Companions. “Since our companionship with The company, Quest has superior To Wind up to be an revolutionary chief Inside the cybersafety, data intelligence And that iT operations administration markets shiping vital worth to its buyers and companions.”
“With A robust portfolio of market-main software and SaaS options aprolongedsideside a rich historic previous of product innovation, we think about Quest is properly positioned to capitalize on rising growth trfinishs in identity-centric cybersafety, data intelligence And that iT operations administration software markets,” said Prashant Mehrotra, Companion, and Paul Huber, Principal at Clearlake. “Now with vital scale and utterly indepfinishent, Quest is strategically completely differentiated On the market as a buy-and-build platform and industry consolidator, and we’re thrilled to partner with Patrick, Carolyn and the administration group To help Quest accelerate growth organically And by way of M&A.”
The transaction Is predicted To close Inside The primary quarter of 2022, pfinishing customary regulatory approvals And shutting circumstances. Goldman Sachs acted as sole lead monetary advisor to Quest. J.P. Morgan furtherly acted as monetary advisor and Paul Hastings LLP acted as authorized advisor to Quest.
Silicon Valley Tech Funding Financial institution and Morgan Stanley aprolongedside with BoA Securities, Barclays, Evercore, and William Blair acted as monetary advisors to Clearlake. Sidley Austin LLP acted as authorized advisor to Clearlake.
Goldman Sachs, Morgan Stanley, BoA Securities, Barclays, Credit rating Suisse, BMO Capital Markets and Citigroup provided dedicated debt financing for the transaction.
About Quest
Quest creates software options that make The advantages Of latest know-how exact in an more and more complicated IT panorama. Quest helps buyers clear up their subsequent IT problem, from database and methods administration to Lively Listing and Office 365 administration and cybersafety resilience. Across the globe, managing over 250 million identities, Greater than 100,000 buyers, 15,000 companions and 97 of the Fortune 100 rely on Quest to ship proactive administration and monitoring for The subsequent enterprise initiative, find The subsequent reply for complicated Microsoft problems, and primarytain forward of The subsequent menace. Quest Computer software. The place subsequent meets now. For extra information, go to www.quest.com.
About Clearlake
Clearlake Capital Group, L.P. is an investment firm founded in 2006 working constructed-in companies throughout private equity, credit and completely different associated strategies. With a sector-focused strategy, the firm seeks to partner with expertised administration groups by offering affected person, prolonged-time period capital to dynamic companies Which will revenue from Clearlake’s operational enhancement strategy, O.P.S.® The firm’s core goal sectors are know-how, industrials and shopper. Clearlake presently has roughly $55 billion of belongings beneath administration and its senior investment principals have led or co-led over 300 investments. The firm has workplaces in Santa Monica and Dallas. More information Is out there at www.clearlake.com and on Twitter @ClearlakeCap.
About Francisco Companions
Francisco Companions is A quantity one worldwide investment firm That makes a speciality of partnering with know-how and know-how-allowd companies. Since its launch over 20 years in the past, Francisco Companions has invested In further than 300 know-how corporations, making it A pair of of the active and prolongedstanding buyers Inside the know-how industry. With Greater than $30 billion in belongings beneath administration, the firm invests in alternatives where its deep sectoral information and operational expertise Might help corporations understand their full potential. For extra information on Francisco Companions, please go to www.franciscocompanions.com.
Media contacts:
For Quest:
Mariah Gauthier
Highwire Public Relations
951-314-0760
[email protected]
For Clearlake:
Jennifer Hurson
Lambert & Co.
845-507-0571
[email protected]
For Francisco Companions:
Kate Sylvester
Sloane & Agency
212-446-1860
[email protected]
