Financial investment to Accelerate Development and Generate Continued SaaS Bookings Momentum in A person Identification/OneLogin, the Industry’s Most In depth Unified Identity Cybersecurity Software program Platform
New System Financial commitment to Push Robust Invest in-and-Establish Strategy and Guidance Quest Prospects and Partners by way of Electronic Transformation in Cybersecurity, Facts Intelligence, and IT Functions
SANTA MONICA, Calif. and ALISO VIEJO, Calif., Nov. 29, 2021 (World NEWSWIRE) — Quest Program (“Quest” or the “Company”), a world wide cybersecurity, facts intelligence, and IT functions management application service provider, announced it signed a definitive settlement with Clearlake Capital Group, L.P. (with each other with certain of its affiliates, “Clearlake”) to get the Business from Francisco Partners. Patrick Nichols, current CEO of Quest, will continue to guide the Business supported by the present government management workforce. On closing of the transaction, Clearlake will come to be the bulk shareholder in Quest. The phrases of the transaction were not disclosed.
“We have extended admired Quest as a major identification-centric cybersecurity, knowledge intelligence, and IT functions management program system and the Company’s computer software methods that enable safe company IT environments,” stated Behdad Eghbali, Co-Founder and Running Spouse at Clearlake. “We are fired up to lover with Patrick and Carolyn McCarthy, Quest’s CFO, to benefit from Clearlake’s O.P.S.® framework to enable the Company strengthen its strategic progress strategies like greatest tactics to speed up cloud/SaaS adoption and assist its obtain-and-establish approach.”
“IT groups all over the world rely on Quest to enable them resolve significant problems that help organization growth and address very important strategic initiatives. Quest has developed to develop into a sector chief in identity-centric cybersecurity, knowledge intelligence, and IT operations administration and I want to thank Francisco Partners for encouraging Quest know this vision,” reported Patrick Nichols, CEO of Quest. “Our new partnership with Clearlake will speed up Quest’s momentum as a leader and innovator as we boost our financial investment speed in our core product roadmaps, cloud/SaaS choices, and international presence. We will keep on to expand our consumer base as computing environments and linked administration, modernization, and security troubles, turn into extra intricate.”
“We are happy of the large progress Quest has created considering that re-launching as an unbiased company, and I want to understand Patrick Nichols and the management team for sturdy execution,” mentioned Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Companions. “We have a very long and successful keep track of file executing divisional carve-out transactions and are grateful to have experienced the prospect to perform with the Quest workforce to produce price for the organization, its shoppers, and its associates. We wish the Quest firm properly in their new partnership with Clearlake.”
Started in 1987, Quest Software package has created a standing in excess of 3 decades as a critical computer software answer provider for stability-delicate consumers and a leader of innovation addressing quickly evolving risks and security threats. Quest allows present-day edgeless IT ecosystem – throughout people, programs, and info to endpoints – permitting consumers to manage controls, mitigate and include stability threats proactively, and keep operational up-time whilst decreasing expenses.
Quest’s vital company segments consist of:
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One Identity and OneLogin, earning Quest the only id-centric cybersecurity software package vendor delivering marketplace-acknowledged primary methods across all areas of a unified identification security and administration solution vital to taming identification sprawl and addressing identity-based mostly assaults.
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System Administration for Microsoft®, which supplies software package for IT functions resilience and overall flexibility although enabling companies to keep in command by securing and managing Energetic Listing.
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Information and facts Administration and erwin by Quest, a pioneer and main provider of details operations and intelligence software options that modernize infrastructure, improve overall performance and provide apps more quickly, with choices which includes Toad for Oracle®, erwin Information Modeler, erwin Facts Intelligence, Foglight, ApexSQL and SharePlex®.
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Data defense and endpoint management software program remedies to management knowledge progress and optimize method availability with NetVault, QoreStore, and Kace® offerings.
“It has been a pleasure partnering with Patrick and the complete management team at Quest in scaling the enterprise both organically and via strategic acquisitions,” reported Brian Decker, Partner and Christine Wang, Principal at Francisco Associates. “Since our partnership with the Enterprise, Quest has advanced to become an impressive leader in the cybersecurity, info intelligence and IT operations management marketplaces delivering substantial worth to its shoppers and associates.”
“With a robust portfolio of current market-primary software program and SaaS methods alongside a prosperous record of item innovation, we believe that Quest is effectively positioned to capitalize on rising development trends in identification-centric cybersecurity, facts intelligence and IT functions management application markets,” stated Prashant Mehrotra, Spouse, and Paul Huber, Principal at Clearlake. “Now with important scale and absolutely unbiased, Quest is strategically differentiated in the market as a invest in-and-construct system and market consolidator, and we’re thrilled to partner with Patrick, Carolyn and the administration staff to enable Quest accelerate development organically and by way of M&A.”
The transaction is anticipated to near in the 1st quarter of 2022, pending customary regulatory approvals and closing conditions. Goldman Sachs acted as sole lead financial advisor to Quest. J.P. Morgan also acted as money advisor and Paul Hastings LLP acted as authorized advisor to Quest.
Silicon Valley Tech Expense Bank and Morgan Stanley alongside with BoA Securities, Barclays, Evercore, and William Blair acted as financial advisors to Clearlake. Sidley Austin LLP acted as legal advisor to Clearlake.
Goldman Sachs, Morgan Stanley, BoA Securities, Barclays, Credit history Suisse, BMO Money Marketplaces and Citigroup provided committed financial debt funding for the transaction.
About Quest
Quest makes program answers that make the gains of new know-how actual in an significantly sophisticated IT landscape. Quest will help buyers address their future IT challenge, from databases and techniques administration to Lively Directory and Business 365 administration and cybersecurity resilience. All around the world, running above 250 million identities, much more than 100,000 clients, 15,000 partners and 97 of the Fortune 100 count on Quest to supply proactive administration and checking for the subsequent business initiative, uncover the next answer for complex Microsoft troubles, and stay forward of the up coming risk. Quest Program. Where subsequent fulfills now. For a lot more data, go to www.quest.com.
About Clearlake
Clearlake Capital Team, L.P. is an financial commitment business founded in 2006 operating integrated enterprises throughout non-public fairness, credit rating and other connected techniques. With a sector-targeted method, the business seeks to partner with professional management teams by offering affected individual, prolonged-expression funds to dynamic businesses that can advantage from Clearlake’s operational advancement method, O.P.S.® The firm’s core target sectors are engineering, industrials and shopper. Clearlake currently has around $55 billion of belongings less than administration and its senior expenditure principals have led or co-led in excess of 300 investments. The organization has offices in Santa Monica and Dallas. Far more information and facts is available at www.clearlake.com and on Twitter @ClearlakeCap.
About Francisco Companions
Francisco Associates is a primary global investment firm that specializes in partnering with engineering and engineering-enabled businesses. Since its launch more than 20 a long time in the past, Francisco Partners has invested in much more than 300 technological innovation providers, producing it 1 of the most active and longstanding investors in the technology market. With far more than $30 billion in property below administration, the company invests in chances the place its deep sectoral know-how and operational knowledge can enable companies recognize their comprehensive likely. For additional data on Francisco Associates, please take a look at www.franciscopartners.com.
Media contacts:
For Quest:
Mariah Gauthier
Highwire Community Relations
951-314-0760
[email protected]
For Clearlake:
Jennifer Hurson
Lambert & Co.
845-507-0571
[email protected]
For Francisco Associates:
Kate Sylvester
Sloane & Corporation
212-446-1860
[email protected]
