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BMC is Evidently for Sale

Anybody figuring on buying the whole thing would have to come up with more than its $6.83 billion market cap
By Maureen O'Gara
Article Rating:
October 1, 2012 06:30 PM EDT
Reads:
 1,356

BMC Software has hired Bank of America Merrill Lynch to find somebody to buy it, according to the Wall Street Journal reports.

The bankers are reportedly going after software companies and private equity firm to gauge their interest in buying all or part of BMC.

BMC closed up 3.27% to $42.85 so anybody figuring on buying the whole thing would have to come up with more than its $6.83 billion market cap.

The Texas company sells software for storage management, database performance and data recovery and has been dealing with activist shareholder Elliott Management, which managed to get Novell sold.

Elliott, now owns at least 7.7% of BMC and got two people on the board at the threat of a proxy fight, offered BMC a rosy list of potential buyers including IBM, Oracle, CA, Dell, KKR, Blackstone, TPG and Mitt Romney’s old company Bain Capital.

Published October 1, 2012 – Reads 1,356
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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