KKR Buys BMC Software in $8.3 Billion Deal

KKR & Co. agreed to acquire BMC Software Inc. in a deal that valued the information technology management provider at about $8.3 billion including debt, according to a person familiar with the matter.

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KKR will buy BMC from an investor group led by Bain Capital and Golden Gate Capital together with GIC Pte Ltd., Insight Venture Partners and Elliott Management Corp, according to a statement Tuesday. The transaction comes about five years after the infrastructure software provider was taken private in a $6.9 billion deal.

Houston-based BMC builds various types of software solutions for businesses looking to manage and streamline their information. Since going private in September 2013, the company has invested hundreds of millions of dollars in research, development and product delivery initiatives, according to the statement. BMC has more than $5 billion in debt outstanding, according to data compiled by Bloomberg.

KKR intends to be more aggressive when it comes to M&A and is open to small as well as large transactions, according to a person familiar with the firm’s strategy who asked not to be identified because the matter was private.

KKR declined to comment on both the size of the transaction or the firm’s plans beyond what’s stated in Tuesday’s release. Representatives for Bain and Golden Gate also declined to comment.

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SOURCE: Bloomberg, Melissa Mittelman

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