Monday, May 6, 2013

BMC Software In $6.9 Billion Acquisition Deal With Bain, Golden Gate

Houston-based enterprise software developer BMC Software finally anounced an acquisition deal this morning, with an investment group led by Bain Capital and Golden Gate Capital, along with GIC Special Investments Pte Ltd and Insight Venture Partners. BMC said it has agreed to be acquired for $46.25 per share in cash, or approximately $6.9 billion. BMC has been in the midst of backdoor acquisition efforts since at least March, with a number of bidders being leaked over the last few months. BMC said that Elliott Management, the activist shareholder which owns 9.6 percent of its stock, has agreed to vote its share in favor of the transaction.