BMC Keeping Schtum On Rumours Of Sale

BMC Software is looking for a buyer and bankers have already been brought in to court potential suitors, according to reports.

Bank of America Merrill Lynch has been employed to assist in a strategic review of the firm, and bankers have already approached large IT organisations and private equity firms to see whether they want to invest, Reuters reported, citing people familiar with the matter. BMC has a market value of around $6.9 billion (£4.3 billion).

BMC under pressure?

But the software firm won’t say whether it wants fresh ownership. “BMC doesn’t comment on rumours and speculation,” a spokesperson told TechWeekEurope.

Earlier this year, Elliott Management, a hedge fund which, along with its associates, owned a 7.7 percent share of BMC as of 2 August, had placed pressure on the software maker to sell itself. Elliot presented a list of potential buyers too, including IBM, Oracle and Dell.

Elliot has been seeking greater influence within the firm. It agreed a deal with BMC in July, which included an expansion of the board of directors, adding two Elliot nominees.

BMC is big on cloud right now. In July, it upgraded its cloud system management package, claiming it offered more granular administrative controls and capabilities.

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