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Dell buys cloud software firm Enstratius
by Staff Writers
New York (AFP) May 6, 2013


Cloud software firm BMC sold for $6.9 bn
New York (AFP) May 6, 2013 - A consortium of private equity groups announced a deal Monday to acquire enterprise software group BMC Software for $6.9 billion in cash.

The group led by Bain Capital, Golden Gate Capital, GIC and Insight Venture Partners will pay $46.25 a share for the firm specializing in business and cloud management software.

"After a thorough review of strategic alternatives, the BMC board of directors is pleased to reach this agreement, which provides shareholders with immediate and substantial cash value, as well as a premium to our unaffected share price," said Bob Beauchamp, BMC chairman and chief executive.

"BMC believes the opportunity to become a private company will provide additional flexibility and position us to invest more strategically to drive powerful innovation and deliver cutting edge customer solutions."

The deal culminates an effort by Elliott Management Corporation, which owns 9.6 percent of BMC, to press for moves to boost value for shareholders.

"As large and engaged stockholders, we are pleased to have played a constructive role in catalyzing this strategic move," said Jesse Cohn, a portfolio manager at Elliott. "We think this is a tremendous outcome for BMC's employees, customers and stockholders."

The agreement contains a provision that allows BMC to see alternative proposals over the next 30 days before a deal is finalized.

Dell said Monday it had acquired cloud software firm Enstratius as part of the computer maker's efforts to diversify and reduce its dependence on the slow-growing PC segment.

Terms of the deal were not disclosed.

The announcement comes with Dell seeking to go private in a buyout plan led by company founder Michael Dell. The Dell board is also considering an alternative plan led by corporate raider Carl Icahn.

Dell said in a statement that the acquisition of Enstratius "further enhances Dell's end-to-end solutions strategy, bringing key capabilities to deliver cloud-management solutions to our customers."

Enstratius helps companies manage more than 20 public and private cloud platforms, including OpenStack, VMware, Rackspace, Amazon Web Services and Windows Azure, according to the statement.

"As enterprises increase their use of public, private and hybrid clouds, the need for controls, security, governance and automation becomes more critical," said Tom Kendra, vice president and general manager for systems management at Dell Software.

"Dell, together with Enstratius, is uniquely positioned to deliver differentiated, complete cloud-management solutions to enterprise customers, large and small, empowering them with the efficiency and flexibility in the allocation and use of resources."

The Dell board is still reviewing the buyout plan to take the firm private in a $24.4 billion deal.

Icahn would inject an additional $5 billion into Dell, paying $15 per share for up to 58 percent of Dell shares.

Another offer from the Blackstone Group was withdrawn last month.

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