Clearlake Capital Group, L.P. has acquired Quest Software, a global cybersecurity, data intelligence and IT operations management service provider, from Francisco Partners. Going forward, Clearlake will be the majority shareholder in Quest.
Over the last 3 decades Quest has grown into a critical software provider for security-sensitive customers and a leader in innovation regarding rapidly evolving risks and security threats. The firm provides a few key business segments including One Identity and OneLogin, platform management for Microsoft, Information management and data protection.
“With a robust portfolio of market-leading software and SaaS solutions alongside a rich history of product innovation, we believe Quest is well positioned to capitalize on emerging growth trends in identity-centric cybersecurity, data intelligence and IT operations management software markets,” said Prashant Mehrotra, partner at Clearlake.
“Quest has evolved to become a market leader in identity-centric cybersecurity, data intelligence, and IT operations management and I want to thank Francisco Partners for helping Quest realize this vision,” said Patrick Nichols, CEO of Quest.
Silicon Valley Tech Investment Bank and Morgan Stanley & Co LLC along with BoA Securities, Barclays, Evercore, and William Blair acted as financial advisors to Clearlake. Sidley Austin LLP acted as legal advisor to Clearlake.