The dawn of the cloud computing era meant the company became less relevant over time, and even in areas where its software was still important, it was displaced by rivals such as ServiceNow Inc. The company went private at a time when it was facing disruption from a number of forces. was ordered to pay it $1.6 billion in connection with a 2017 lawsuit regarding the alleged breach of a significant customer contract. for a reported price of about $8.5 billion.īMC most recently hit the headlines in May when its rival IBM Corp. In 2019, BMC changed hands again when it was acquired by KKR & Co. The company is no stranger to the markets either, having been publicly listed until 2013, when it was taken private by a consortium of private equity firms including Bain Capital Private Equity, Golden Gate Capital, GIC, Insight Venture Partners and the activist hedge fund Elliott Management LLC. It has reportedly built up a customer base that includes about three-quarters of the Forbes Global 50, and it partners with companies such as Dell Technologies Inc., Accenture Plc and Wipro Ltd. Over the years, it has expanded its portfolio to cover other areas, including cloud infrastructure management. However, Reuters reported Saturday that BMC is now satisfied that conditions have improved, and it believes an IPO could value the company at about $14 billion to $15 billion.īMC Software is a veteran player in the enterprise technology market, founded way back in 1980 when it was initially focused on selling software for IBM Corp.’s mainframes.
As a result, many startups have been forced to put their stock market flotation plans on ice, waiting for investor appetite to improve.
The technology industry has been one of the hardest-hit by the global economic slowdown that emerged last year, with many companies reporting slowing growth and stock prices falling rapidly. reportedly filed confidential plans for an initial public offering late Friday, in what could be one of the first signs of the market thawing after almost a year of inactivity on the IPO front. Enterprise software firm BMC Software Inc.
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