May 29, 2018 the investor group includes gic, insight venture partners and elliott management. I write to you on behalf of elliott management and our collective funds, holders of approximately 6. Bmc software completes privatization transaction bain. May 14, 2012 bmc software inc adopted a shareholder rights plan to help stave off a potential acquisition, after hedge fund group elliott called for a sale of the company and told the business software maker. Bmc stock was originally traded on nasdaq under the symbol bmcs and on the new york stock exchange with symbol bmc, but the.
Bmc, the bmc logo, and other bmc marks are assets of bmc software, inc. Bmc adopts takeover defenses after elliott gains 5% stake. Bmc announces that a representative of elliott associates, l. According to a press statement from bmc software, inc. Bmc said tuesday it has reached an agreement with elliott associates lp regarding the houstonbased companys board of directors. Elliott lays out argument for a sale of bmc software the. Jul 25, 20 bmc software approved elliott management to rollover its shares. Elliott managements bmc software presentation insider. Gartner names bmc a leader in the itsm magic quadrant for the 6 th year in a row. Since 1980, bmc has consistently expanded its scope alongside constantly evolving it markets to address the everchanging needs of the global enterprise. Robin elliott deactivated log in to learn more about relliott, share content. Sure, elliotts done software bmc software and informatica, among others and theyve done german companies with a works counsel. Jun 01, 2012 elliott management, the hedge fund that is pushing bmc software inc.
Elliott portfolio manager jesse cohn said, elliott applauds the bmc software board and executive leadership for delivering this valuemaximizing outcome for stockholders. Bmc software announces agreement with elliott management. Oct 01, 2012 elliott management has made strides in its latest activist campaign against a technology company, as bmc software has retained bank of america merrill lynch to explore a potential sale of itself, a person briefed on the matter told dealbook on monday. View tony elliotts profile on linkedin, the worlds largest professional community. Elliott lays out argument for a sale of bmc software. Bmc software ceo opens up about living with activist elliott. Weve selected three deals, citrix, cognizant and bmc.
Bmc software management and board of directors decided to leave the nasdaq and end its time as a public company, sell significant portions of stock and go private. Robin elliotts profile bmc communities bmc software. Bmc had expanded the number of directors on its board of directors. Bmc software completes privatization transaction bain capital. Kkr to acquire bmc software from investor group pr newswire. Bmc softwares compuware acquisition will boost companys. May 06, 20 houstonbased bmc has been under pressure from shareholder elliott management corp. You have to be ready to react while still ensuring continuity in service. Bmc or the company today announced the successful completion of its acquisition by a private investor group led by bain capital and golden gate capital together with insight venture partners, gic special investments pte ltd gic, and elliott management corporation collectively, the investor group. A year after a leveraged buyout that activist supported, mr. Elliott files definitive proxy statement for bmc software.
Elliott management to keep a finger in bmc software wsj. Learn more about greg elliott in bmc communities skip navigation. Our digital enterprise management solutions are designed to make digital business fast, seamless, and optimized from mainframe to mobile to cloud and beyond. Bmc, of houston, provides software to help companies organize their it management functions. Elliott management, the hedge fund that is pushing bmc software inc. Founded in 1980, bmc is a leading systems software provider.
By adding compuwares portfolio of mainframe software offerings, bmc is setting itself up to better compete in mainframe services with industry giants like ibm and broadcom, elliot said. Robert e beauchamp has been ceo of bmc software for 11 years. During the second quarter of 2012, paul singers elliott management initiated a position of 10. The elliott management track record in tech deals diginomica. Elliott managements activist presentation on bmc deal. Bmc rejects elliott sale proposal with poison pill law360. Bmc software, elliott funds strike deal to end takeover. Bmc is wellpositioned for future growth and success. Bmc offers saasbased and onpremise software and services in areas including cloud computing, it service management, automation, it operations, and mainframe. Elliott lays out argument for a sale of bmc software the new. May 31, 2012 elliott management, the hedge fund pushing bmc software to sell itself, isnt as well known for activists stances as it is its vulturelike attitudes. Elliott files detailed analysis on bmc pr newswire. In 2012, elliott management tried to shake things up at houstonbased bmc software.
Bmc or the company today announced the successful completion of its acquisition by a private investor group led by bain capital private equity and golden gate capital together with insight venture partners, gic special investments pte ltd gic, and elliott management corporation collectively, the investor group. View shane elliotts profile on linkedin, the worlds largest professional community. Bmc software inc adopted a shareholder rights plan to help stave off a potential acquisition, after hedge fund group elliott called for a sale of the company and told the business software maker. Tony elliott technical support bmc software linkedin.
What would hedge fund do with bmc software, compuware. Kkr to acquire bmc software from investor group bmc. Bmc, elliott reach agreement over board houston business. Elliott makes case for sale of bmc software marketwatch. The hedge fund elliott management has filed a 36page powerpoint presentation with the s. Bmc solutions help optimize your it infrastructure, enabling a secure, costeffective. May 31, 2012 elliott management, apparently concerned that its calls for bmc software to sell itself have not been heeded, has laid out its argument in a lengthy presentation the hedge fund filed a 36page powerpoint presentation with the securities and exchange commission on thursday, aimed at prodding bmc into considering a sale to a larger software company or a private equity firm. In its presentation, elliott argued that bmc had meaningfully trailed its competitors in the enterprise software industry, and had failed to capitalize on newer trends like softwareasaservice.
Bmc software rebuffs elliott with poison pill reuters. Kirkland represents bmc software in sale to kkr news. Elliotts campaign against bmc advances as company explores a. Prnewswire bmc software bmc, a global leader in software. Sep 09, 20 new york city, september 10, 20 bmc software, inc. Kkr completes acquisition of bmc software geospatial world. May 29, 2018 bmc is a global leader in innovative software solutions that enable businesses to transform into digital enterprises for the ultimate competitive advantage. Jon simonfeature photo servicebmc softwarehandout via reuters. You have to keep customers engaged while designing the new products and experiences they demand. Partners and elliott management collectively, the investor group. Bmc software caught between cloud boom and tech gloom thestreet. See the complete profile on linkedin and discover shanes. Bmc software caught between cloud boom and tech gloom. Insight venture partners, hedge fund elliott management and gic, the singaporean sovereign wealth fund, also participated in the 20 deal.
Tony elliott technical support at bmc software tampa, florida 98. To be clear, elliott didnt want to get into the software game and run novell. Jim schaper and john dillon to be added to bmc slate. Headquartered in houston, bmc software serves more than 10,000 customers worldwide, including 92% of the forbes global 100. In october 2018, kkr a global investment firm acquired bmc software from bain capital private equity and golden gate capital together with gic, insight venture partners, and elliott management. Jon simonfeature photo service bmc software handout via reuters elliott management, which owns 9. Seven months after elliott management, likely the oldest hedge fund, made an offer for bmc software nasdaq.
613 1181 977 1526 1391 435 444 1028 1253 845 710 361 674 1468 1045 525 1052 586 1359 952 537 1376 668 793 1401 546 1425 680 1476 308 1452 1409 138 1150