A private equity consortium consisting of Bain Capital LLC and Golden Gate Capital Corp has become the leading bidder to purchase BMC Software for over US$6.5 billion. The bid was confirmed by three anonymous individuals familiar with the ongoing sale process.
The consortium made a binding offer for the software developer last April 22. The bid was above another bidding group comprised of KKR&Co LP, TPG Capital LP and Thoma Brave LLC.
There is no exact information as to the bids made as they were confidential. One of the sources though said that the bids were between US$45 to US$50 per share. This places the enterprise value of the company at above US$6.5 billion.
BMC Software has not granted exclusive rights to either of the bid rivals. As such, the bids may still be modified or the company may refuse all the bids. What is sure though is that an agreement is trying to be threshed out within the coming week.
BMC competes in the market with Oracle Corp, SAP AG Inc and Compuware. When sought for comment, BMC did not provide any statement.
Join the Conversation