BMC Closes Remedy Deal for $355 Million

 
 
By Paula Musich  |  Posted 2002-11-21 Email Print this article Print
 
 
 
 
 
 
 

BMC on Thursday announced that it has closed its $355 million acquisition of Peregrine's Remedy business unit.

BMC Software Inc. on Thursday announced that it has closed its $355 million acquisition of Peregrine Systems Inc.s Remedy business unit. Houston-based BMC will allow Remedy, which markets the Action Request System problem tracking and workflow platform, to operate as an independent unit. Remedy, along with ARS, also brings a series of applications that work with the platform, including Remedy Help Desk, Remedy Asset Management, Remedy Change Management, Remedy Customer Support and Remedy Crisis Response.
Remedy brings to the $1.3 billion enterprise management supplier service management tools used by a "fiercely loyal" customer base of about 6,000 companies, with more than 10 million users, as described by BMC President and CEO Bob Beauchamp on an analyst call earlier today.
"The Remedy business is a strategic fit for BMC that will help us to achieve our vision of being the leader in enterprise management systems," said Beauchamp on the call. BMC intends to create "an industry powerhouse with the most comprehensive integrated service management solutions," he added. BMCs plan for Remedy is to keep its organization intact as a separate unit and to accelerate roadmaps for future Remedy product plans. Toward that end, teams from both organizations are working to accelerate integration roadmaps for Remedy Service Desk, Remedy Change Management and Remedy Service Management with BMCs MainView and Patrol product lines.
BMCs Patrol Enterprise Manager already works with Remedy Help Desk. "Any event in an enterprise can open and populate a trouble ticket," described Beauchamp. BMC has a strategy to continue to look at other acquisition opportunities, but "we will continue to be conservative. Dont expect us to bring our cash balance down to zero," said Beauchamp. Meanwhile, Peregrine, looking ahead, plans to build on its Consolidated Services Management software and services offerings. "We will be focused on our core competency—helping organizations unlock the value of the enterprise by improving service delivery across the business," said Peregrine CEO Gary Greenfield, in a press release.


 
 
 
 
 
 
 
 
 
 
 

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