M&A Head Leaves Quest for CEO Post in ColoradoThursday, August 23, 2012
Shayne Higdon, who ran mergers, acquisitions and corporate strategy at Quest Software Inc., has left the company to head a Boulder, Colo.-based cloud services provider.
Higdon will take the role of chief executive and hold a board seat at Symplified Inc., which makes Internet-based software for business that helps them manage and secure cloud computing networks.
Eric Olden, Symplified’s current and founding CEO, will assume the role of executive chairman and continue to provide strategic direction.
Symplified was one of more than a dozen companies Higdon targeted for investment during his tenure at Quest. In January 2010 Quest took part in a $9 million venture capital round for the company.
Higdon is the first high profile executive to leave the Aliso Viejo business software maker since Dell Inc.’s $2.4 billion buy for Quest was announced in early July.
The Business Journal reported earlier this month that Higdon, along with Quest Chief Executive Vincent “Vinny” Smith and Vice Chairman Doug Garn, might not be part of Dell’s integration plans.
Higdon oversaw more than 30 acquisitions and an international investment fund at Quest.
Quest makes software that manages and improves on other business products from Redmond, Wash.-based Microsoft Corp., Oracle Corp. in Redwood Shores, New York-based IBM Corp. and others.
Round Rock, Texas-based Dell, the third-largest computer maker in the world, is positioning the Quest buy as the cornerstone to grow software sales past the $5 billion mark in the coming years as it aims to diversify its product offerings.
The deal is expected to close by October.