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KKR Set To Acquire BMC Software From Private Investors

Mark Haranas

May 29, 2018, 09:37 AM EDT

Global investment firm KKR has signed a definitive agreement to acquire $2 billion enterprise software vendor BMC Software.

The private equity firm will buy Houston-based BMC from an investment group that includes Bain Capital, Golden Gate Capital and Elliot Management. Terms of the deal were not disclosed.

BMC went private in 2013 after being bought by Golden Gate and Bain in a deal worth $6.9 billion. The software company has more than 10,000 customers worldwide as well as 60,000 employees in 30 countries.

Peter Leav, President and CEO of BMC, said his company's growth outlook remains strong as the vendor is "competitively advantaged to continue to invest and win."

"Our customers can expect the BMC team to remain focused on providing innovative solutions and services with our expanding ecosystem of partners to help them succeed across changing enterprise environments," Leav said in a statement.

Founded in 1980, BMC provides software and services around multi-cloud management, security, artificial intelligence, automation and IT optimization.

KKR has invested more than $26 billion in the technology, media and telecom industry, according to a company announcement. Last month the firm invested $172 million in application development specialist Cherwell Software.

The acquisition is expected to close in the third quarter of 2018.