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KKR to buy BMC Software from Bain Capital, Golden Gate

Global investment firm KKR & Co. LP has agreed to acquire BMC Software Inc. from a private investor group led by private equity firms Bain Capital LP and Golden Gate Capital for an undisclosed sum.

GIC Pvt. Ltd., Insight Venture Partners LP and Elliott Management Corp. are also part of the investor group.

The deal, expected to close in the third quarter, is subject to regulatory approvals and other customary closing conditions.

Credit Suisse, Goldman Sachs Bank USA, Jefferies Finance LLC, Macquarie and Mizuho Bank are providing the financing for the transaction.

Goldman Sachs & Co. LLC, Credit Suisse and Morgan Stanley & Co. LLC were financial advisers to BMC. Kirkland & Ellis LLP is BMC's legal counsel on the deal. Macquarie Capital is the exclusive financial adviser to KKR. Simpson Thacher & Bartlett LLP is KKR's legal counsel.

Reuters reported in February that BMC Software was eyeing an IPO that could value the U.S.-based software company at more than $10 billion, including debt. Bain Capital and Golden Gate Capital took BMC Software private in 2013 in a $6.9 billion leveraged buyout.