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Tuesday, October 16, 2012

Cloud Storage Appeared Not Profitable At All

Although many experts in the industry claim that cloud services, management software, and storage are literally a license to make money even during a recession, it looks like the company named BMC Software believes into the opposite.
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BMC Software, Inc. is a US-based entity with headquarters in Houston, Texas, which specializes in business service management software. The company is developing, marketing and selling software that the businesses can use for different functions – for instance, IT service management, information center automation, and cloud computing management. The name of the company was formed by the surnames of its founders – Boulette, Moores, and Cloer.

BMC Software is currently considering a potential sale. It has even hired Bank of America Merrill Lynch to conduct the strategic review for the company. It seems that bankers for the BMC Software have been wining and dining potential buyers, who are mostly large technology corporations and private equity companies, to estimate their interest in purchasing all or part of BMC Software.

The software maker is currently under the pressure to sell itself from Elliott Management. The latter is a $20 billion activist hedge fund operated by Paul Singer, which is worth $6.9 billion and is in control of almost 8% of BMC Software stock.

This past summer, the business software maker announced that it had reached an agreement with hedge fund and was going to expand the size of its board to twelve directors to be able to add two more Elliott nominees. Press reports read that the hedge fund had named a few of the potential buyers. The list included Dell, IBM, Oracle, and such private equity companies as Bain Capital, KKR & Co LP, and Blackstone Group LP.

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