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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
QUEST SOFTWARE TO ACQUIRE FASTLANE TECHNOLOGIES,
CREATES LEADING POSITION IN DATABASE, APPLICATION AND DIRECTORY MANAGEMENT
. . . COMBINED PRODUCT LINES, SERVICES AND PARTNERS PROVIDE UNPRECEDENTED
SOLUTIONS FOR THE DEPLOYMENT AND MANAGEMENT OF WINDOWS 2000 AND ACTIVE DIRECTORY
IRVINE, CALIF. AND OTTAWA, ONTARIO, JUNE 29, 2000 -- Quest Software, Inc.,
(Nasdaq: QSFT), a leading provider of software for managing and monitoring
business-critical applications, and FastLane Technologies Inc., a leading
provider of directory management software for Microsoft platforms, today
announced the companies have signed a definitive agreement for Quest Software to
acquire FastLane Technologies. The acquisition positions Quest as a leading
vendor in the Microsoft systems management market, with complete solutions that
enable enterprise deployments and ongoing management of Windows 2000.
The deployment of Windows 2000 and Active Directory is the largest
infrastructure upgrade Microsoft has ever attempted and is a foundation for
Exchange 2000, SQL Server 2000 and new and enhanced eCommerce strategies,
offering lower overall cost of operations and management. For Global 2000 and
other large enterprises, Windows 2000 is driving the need for scalable software
and services for directory migration, management and performance monitoring. The
acquisition of FastLane ideally positions Quest to meet these business needs
both during and after a Windows 2000 deployment.
Under the terms of the agreement, Quest will acquire privately held FastLane
Technologies for a combination of cash and stock totaling approximately US$100
million. The acquisition, which Quest and FastLane expect to complete in late
July or early August, will be accounted for as a purchase. FastLane will operate
as a separate division of Quest Software. FastLane's president, Jan Kaminski,
will continue to lead the new division.
"Both companies believe our combined offerings generate significant value to our
customers as they deploy Windows 2000 and directory enabled applications. As a
market leader, we are dedicated to providing the most comprehensive solutions to
help manage critical infrastructure, including applications, databases and
directories," said Vincent C. Smith, Quest chairman and chief executive officer.
"By combining the expertise and experience of two industry leaders, Quest will
become the first software provider that can offer a complete solution for
managing and monitoring all of your critical open systems applications."
"Through our leadership and technology in directory management, FastLane has
created a huge opportunity for deploying Windows 2000 and Active Directory and
the pending requirement to manage business-critical applications on Microsoft
platforms. By joining Quest, we will now have the resources and shared knowledge
to fully capitalize on this opportunity," said Jan Kaminski, FastLane's
president. "This acquisition is a significant event to the industry and will
provide customers with a comprehensive solution for managing business-critical
Windows NT- and Windows 2000-based systems."
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FastLane provides the first truly, integrated suite of Windows NT/Windows 2000
centric applications for effective Enterprise Directory Management. Its flagship
suite of products, DM/Suite(TM), and its field tested, five-step methodology,
DM/LifeCycle, are being used by Global 2000 organizations such as Shell and
AstraZeneca to plan, deploy and manage their Windows 2000 and Active Directory
deployments.
Both Quest and FastLane maintain a network of strategic global partners and
distributors that deliver and support IT professionals with tools, training and
services around the world. The acquisition provides both companies' channels
with the opportunity to leverage products and services from both companies,
providing a single source for the products needed to ensure application
reliability and performance.
ABOUT FASTLANE TECHNOLOGIES
FastLane Technologies Inc. is a leading provider of fast, scalable and
cost-effective enterprise directory management solutions for Global 2000
organizations. FastLane is a Microsoft Certified Solution Provider. The company
can be contacted at (800) 947-6752 or visit the website at www.fastlane.com.
ABOUT QUEST SOFTWARE
Quest Software, Inc. delivers solutions that enhance the performance and
reliability of e-business, packaged and custom computing applications.
Businesses and consumers alike have come to expect instant access to information
and Quest Software provides solutions to ensure this availability. Based in
Irvine, Calif., Quest Software has sales and support offices worldwide and
currently has nearly 1,000 employees.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995:
This release may contain forward-looking statements based on our current
expectations, estimates and projections about our industry, management's
beliefs, and certain assumptions made by us. Words such as "anticipates,"
"expects," "believes," "may," "will" and similar expressions are intended to
identify forward-looking statements. These statements are not guarantees of
future performance and are subject to certain risks, uncertainties and
assumptions that are difficult to predict. Therefore, our actual results could
differ materially and adversely from those expressed in any forward-looking
statements as a result of various factors.
Important factors that may cause such a difference for Quest Software include,
but are not limited to, variations in the size and timing of customer orders;
dependence on Oracle's technologies; vulnerability to direct competition with
Oracle; strains placed on the Company as a result of past and future growth;
significant increases in operating expenses in the foreseeable future;
disruptions caused by acquisitions of companies and/or technologies; the
exposure to risk from our international operations; unanticipated year 2000
issues; the difficulty in predicting the buying patterns of customers because of
year 2000 issues; and the need to attract and retain qualified personnel.
Our recent filing on Form S-1 and forthcoming Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, and other Securities and Exchange Commission
filings discuss some of the important risk factors that may affect our business,
results of operations and financial condition. We undertake no obligation to
revise or update publicly any forward-looking statements for any reason.
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