- KKR portfolio company BMC announced the signing of a definitive agreement to buy Compuware, a Thoma Bravo company
KKR portfolio company BMC announced the signing of a definitive agreement to buy Compuware, a Thoma Bravo company and a leader in mainframe application development, delivery, and support solutions. The terms of the deal were undisclosed.
This transaction is building on BMC’s track record of investing in growth and is expected to be completed in the coming months subject to customary closing conditions. And the combination of BMC and Compuware will build on the success of BMC Automated Mainframe Intelligence (AMI) and the Topaz suite, ISPW technology, and classic product portfolios from Compuware to modernize the mainframe industry.
This deal is bringing together two companies focused on consistently delivering innovative products to meet the needs of enterprise organizations worldwide. And the combined company will help customers better manage their mainframe operations, cybersecurity, application development, data, and storage as part of their enterprise DevOps strategies as well as provide seamless integration of the mainframe platform development and management processes into the enterprise technology stack.
BMC is going to continue to accelerate its focus on investing in innovation and disruptive technologies. This is considered one of the largest acquisitions in BMC’s history and is the company’s third acquisition in less than two years.
Macquarie Capital and Jefferies LLC had acted as financial advisors to BMC and KKR and Simpson Thacher & Bartlett LLP served as BMC counsel. And Credit Suisse served as financial advisor to Compuware and Kirkland and Ellis served as legal counsel.
Key Quotes:
“BMC continues to be focused on evolving and investing in our portfolio to address and even anticipate the needs of our customers, helping them to succeed today and into tomorrow. It’s the ideal time to bring Compuware into our portfolio as the traditional mainframe AppDev market transitions to DevOps. We’re excited to welcome the Compuware team as we build best-of-breed modern mainframe solutions.”
– Ayman Sayed, President and CEO of BMC
“Compuware is the proven and trusted partner in mainstreaming the mainframe for Agile and DevOps, and we are thrilled to now be joining forces with BMC in reinventing the future of the platform. Both companies have been leaders in mainframe innovation over the last five years and we look forward to combining our complementary solution strengths and common passion for accelerating our customers’ successful digital transformations. Without a doubt, a combined BMC and Compuware is the best, brightest, and most collaborative partner for a new generation of mainframe stewards.”
– Chris O’Malley, CEO of Compuware
“The acquisition of Compuware brings together two highly complementary, best-in-class technology offerings. We believe the combination of these two companies will create a leading, end-to-end platform focused on driving innovation for our mainframe customers worldwide.”
– KKR Partner John Park
“We are proud to have partnered with Compuware over the past five-and-a-half years during which time the company has become a leading innovator in the mainframe software market. Compuware’s transformation during this time has been remarkable and is a testament to the vision and leadership of Chris O’Malley and the company’s Management team. We would like to thank all of Compuware’s employees for their dedication, effort, and partnership over the course of Thoma Bravo’s ownership.”
– Seth Boro, managing partner at Thoma Bravo
