Quest Software snags Foglight for $85 million
Quest Software agrees to buy e-commerce software company Foglight in a push to expand its offerings for e-business and enterprise applications.
Quest said the Foglight acquisition will broaden its existing products and provide an architecture to expand its offerings for mission-critical e-business and enterprise applications.
Foglight Software, based in Pleasanton, Calif., develops the Real-Time Application Performance System (RAPS). RAPS is an advanced e-business and enterprise application analysis and monitoring system designed to help IT organizations maintain high performance and provide continuous access to critical enterprise business systems.
Under the terms of the agreement, Irvine, Calif.-based Quest will issue 1.3 million shares of its common stock for all outstanding Foglight shares and options. The acquisition is expected to be completed in December 1999.
Quest climbed 2.25 to close at 66.38 yesterday.