BMC spends $800m on server admin firm BladeLogic
BLOG writes itself out of history
BMC Software intends to scoop up BladeLogic for $28 per share, or about $800m net of cash acquired.
BMC said in a statement today it plans to fold Massachusetts-based BladeLogic software into its existing product portfolio.
Data centre player BladeLogic, which hit the stock market last year in a $45.4m initial public offering, creates tools for automating server administration such as configuration and speccing storage devices.
Business service management firm BMC software, which is based in Houston, Texas, said the deal would bring it a “significant, high growth revenue stream”.
In its most recent quarter, BladeLogic turned in revenues of $21.4m, with a net loss of $395,000. The company is projecting revenues of $100m this year.
The acquisition is expected to close, subject to the usual regulatory requirements, in the first quarter of 2009.
The deal will see BladeLogic's misleadingly Web 2.0-ish ticker symbol - BLOG - pulled from the stock market.®