Regulators clear Dell's purchase of Quest Software
Federal antitrust regulators have cleared Dell Inc.'s $2.4 billion purchase of Quest Software Inc.
On Monday, the Federal Trade Commission sent out its list of transactions that have won early clearance from regulators. It means the acquisition can proceed as planned. Such deals can be cleared by either the FTC or the Department of Justice.
Dell announced the deal earlier this month. It is buying Quest, based in Aliso Viejo, Calif., in an effort to expand its offerings as its personal computer business weakens in an era of smartphones and tablet computers.
Quest's software is designed for businesses and government agencies. Dell is hoping that this will help it sell more servers, networking and storage products and computing services to these customers.
Quest is Dell's biggest acquisition since it bought technology consulting firm Perot Systems for $3.9 billion in 2009.
Shares of Round Rock, Texas-based Dell fell 27 cents, or 2.3 percent, to $11.73 in afternoon trading on Monday after falling to a low of $11.52 earlier in the session, its lowest level since August 2010.