A Quest statement circulated on 14 June revealed that a "strategic bidder" had offered to acquire the company for $25.50 (£16) per share, a seven per cent increase from its value of $23.86 (£15) per share at closing bell the day before. The bid comes after talks between the two companies last month proved inconclusive.
Though Quest agreed in March to be bought out by Insight Venture Partners, the equity firm will have three days to match the offer or counter with a higher a bid.
Speaking to analysts on 13 June, Dell CEO Michael Dell described his company's software arm as "modest" and said he hoped to grow that part of its business.
Dell told investors this week that its strategy to shift its focus away from consumer to corporate computing was proving successful. Quest, which makes data management and database software, would easily fit into this approach.
Despite being the second-largest US personal computer manufacturer, Dell is looking to expand its presence in the business arena. The move makes sense, given that a shift in consumer trends suggests tablets and other mobile devices will eclipse PC sales over the next few years.