Investment firm KKR (NYSE: KKR) will buy enterprise software provider BMC Software from an investor group, the companies said on Tuesday.
The group includes Bain Capital Private Equity, Golden Gate Capital, GIC, Insight Venture Partners and Elliott Management.
Citing a single source familiar with the deal, the New York Post reported last week BMC could be worth around $10 billion, having been bought by Bain and Golden Gate for $6.9 billion in 2013.
The statement on Monday gave no indication of the deal value.
Credit Suisse, Goldman Sachs, Jefferies, Macquarie and Mizuho Bank provided financing for the acquisition, which is expected to close in the third quarter of 2018.
Founded in 1980, BMC is a leading systems software provider which helps enterprise organizations manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments.
Over the past 38 years, BMC has consistently expanded its scope alongside constantly evolving IT markets to address the ever-changing needs of the global enterprise. Today the company serves more than 10,000 customers worldwide, including 92% of the Forbes® Global 100. Recently, BMC was also recognized as one of America's best employers for the third consecutive year by Forbes.
Said BMC CEO Peter Leav, "With the support and partnership of our Investor Group, BMC significantly accelerated its innovation of new technologies and new go-to-market capabilities over the past five years."
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds.
Its shares declined 24 cents, or 1.1%, to $22.22
