Quest Software (NASDAQ: [[ticker:QSFT]]), the Aliso Viejo, CA-based developer of application management software, is acquiring San Diego’s BakBone Software, the struggling data protection technology specialist. The companies say their deal is valued at $55 million, including the payment of BakBone’s debt obligations. BakBone, which was built around data storage management technology it had acquired from AT&T, stumbled in a diversification strategy that included its $16 million acquisition of Colorado-based ColdSpark in 2009. BakBone shut down its ColdSpark operation earlier this year. While BakBone was based in San Diego, the company was incorporated in Canada, and the deal will require the additional approval of the BakBone security holders and the Court of Queen’s Bench of Alberta. As a result, the deal is expected to close early next year.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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