Dell is nearly ready to announce the Quest Software (NASDAQ: QSFT) buyout, according to Bloomberg. If true, Dell could emerge as a top migration specialist helping customers to shift from on-premises Exchange to Office 365 and perhaps even Dell Cloud.

Quest Software specializes in IT management, desktop virtualization and cloud migration software and services. The company is one of the best-known providers of Office 365 migration services, helping customers to shift from on-premises Microsoft applications to SaaS versions of Exchange, SharePoint and more.

But here's the interesting twist: A lot of those on-premises customers use Dell servers. It's a safe bet Dell will leverage Quest Software to shift customers into Dell's own cloud -- assuming Dell really is buying Quest.

The on-again, off again deal has been rumored for about a month. Insight Venture Partners and Vector Capital partnered to bid on Quest. But a mystery bidder has upped the ante twice. Both times, Dell allegedly was the mystery bidder. So far the PC giant has offered no comment on whether the company is bidding for Quest.

Reuters believes Dell could announce the Quest Software buyout as soon as Monday, July 2.