ALISO VIEJO, Calif. (AP) — Quest Software Inc. said Monday that it received a higher buyout offer worth about $2.32 billion from an unnamed buyer, ramping up the battle for the technology services provider.

The most recent offer of $27.50 per share follows a string of increasing bids that began after the company announced in March that it was being bought by investment firm Insight Venture Partners for $23 per share. At that time, the Aliso Viejo, Calif., company said the deal valued it at about $2 billion.