Hello, Guest!
  • Friday, April 26, 2024

Private Investor Group to Buy BMC for $7B Cash

BMC-Software-LogoBMC Software‘s (NASDAQ: BMC) board of directors has agreed to sell the company to a private investor group led by Bain Capital and Golden State Capital for $6.9 billion cash, or $46.25 per share.

The transaction is subject to approval from BMC shareholders and regulatory approvals and the company expects the transaction to close later this year, BMC said Monday.

GIC Special Investments Pte Ltd. and Insight Venture Partners round out the group seeking to buy BMC.

Elliott Management has agreed to vote its 9.6 percent stake in BMC in favor of the sale, BMC says.

The agreement with the investor group contains a 30-day period where BMC may solicit alternative proposals for an acquisition.

BMC has hired Morgan Stanley & Co. and BofA Merrill Lynch as financial advisers and Wachtell, Lipton, Rosen & Katz as legal counsel for the sale.

Credit Suisse, RBC Capital Markets and Barclays will provide debt financing for the transaction, which contains no financing condition.

Video of the Day

Related Articles

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted M&A Activity

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted

VTG has moved to expand its portfolio of digital transformation platforms and cloud services for defense and intelligence community customers through its acquisition of Vana Solutions. Vana Solutions is a Dayton, Ohio-based company founded by Srujal Sheth and Sunit Sheth in 2005 and is focused on delivering cloud services, advanced analytics, data fabric platforms and

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted M&A Activity

IBM Strikes $6.4B Acquisition Deal for HashiCorp; Arvind Krishna Quoted

IBM (NYSE: IBM) has agreed to acquire HashiCorp (Nasdaq: HCP) for approximately $6.4 billion, or $35 per share in cash, to expand its infrastructure and security lifecycle management capabilities designed to help organizations automate their multicloud and hybrid cloud environments amid the rapid deployment of artificial intelligence technologies. IBM said Wednesday the boards of directors

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted M&A Activity

Sigma Defense Buys Electronic Warfare Tech Company EWA; Matt Jones Quoted

Sigma Defense Systems, a portfolio company of Sagewind Capital, has moved to expand its Combined Joint All-Domain Command and Control capabilities with its acquisition of Herndon, Virginia-based electronic warfare systems provider EWA. EWA was founded by President and CEO Carl Guerreri in 1977 to bring electronic warfare platforms, threat simulators, testing and training support and