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BMC Software history
BMC Software company history timeline
BMC was founded in September 1980 by Scott Boulette, John J. Moores and Dan Cloer.
In 1982, BMC's novel marketing methods and its IBM mainframe products attracted the attention of venture capitalist Jacqueline Morby.
1984: The company opens its first international office in Frankfurt, Germany.
When Moores gave up the day-to-day management of BMC in 1987, stepping down as CEO and president, Max Watson succeeded him.
In March 1988, BMC announced that in July it would make an initial public offering (IPO) of approximately three million shares of common stock on the NASDAQ. Company officials also hoped that the IPO would give the company visibility and prestige.
In July 1988, BMC was re-incorporated in Delaware and went public with an initial public offering for BMC stock.
The first day of trading was August 12, 1988.
In January 1989, it purchased Trimar Software Systems Ltd. and Trimar Software International Ltd., Toronto-based companies that produced IMS-VS Fast Path software products, for $4.5 million.
1990: Integrity Solutions, Inc. is acquired.
By the beginning of 1991, it had also acquired Integrity Solutions, Inc. and the DB2 General Recovery Facility product.
By mid-1991, the Wall Street Journal could report that BMC was one of the most profitable and fastest-growing firms in the software field.
In 1992, Watson assumed the position of chairman as well.
BMC was performing strongly in early 1992.
Soon after Moores left BMC, he founded a new software firm, Peregrine Systems, and started hiring software developers away from BMC, which responded in 1994 with a lawsuit against Peregrine and its former employees.
BMC, which has made roughly 70 acquisitions to date, acquired Patrol Software for $33 million in 1994.
Around 1996, it began licensing its products for use by other companies for the first time.
The renewed mainframe vogue was reflected in a 54 percent increase in BMC's profits for December 1998.
In March 1999, it acquired Boole & Babbage, a San Jose, California-based software producer, for $900 million in stock.
Wall Street liked the developments at BMC. Over the course of 1999, the company's stock value increased a whopping 81 percent.
As if to belie that explanation, though, BMC continued to expand in 2000.
Businesses were also upgrading software in preparation for Y2K, the fear that computer programs wouldn't recognize '2' as the first digit in 2000.
In November 2002, BMC spent $355 million in cash to purchase the Remedy Software assets of Peregrine Systems, Inc., which was going into bankruptcy.
Fletcher said its 2002 acquisition of Remedy was "key for them finding growth."
In March 2003, it purchased Belgium's IT Masters, a developer and producer of computer systems management software, for $42 million.
More than a third of BMC's 2003 revenues came from international sales.
In June 2006, BMC sold its Houston campus for $292 million to Thomas Properties Group, through a joint venture with the California State Teachers' Retirement System.
In 2012, it was confronted by activist shareholders as Elliott Associates and Elliott International acquired more than 5 percent of BMC's common stock.
In May 2013, BMC announced that it was being acquired by a group of major private equity investment groups for $6.9 billion.
A Gartner report found that Remedy helped BMC capture 21 percent of the $2.2 billion IT service support market in 2015.
The company's profitability is expected to grow by double-digit rates in 2016.
It was announced on October 2, 2018 that BMC was acquired by KKR, a leading global investment firm.
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BMC Software competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Citrix | 1989 | $3.2B | 9,000 | 6 |
| F5 | 1996 | $2.8B | 6,550 | 188 |
| Kaseya | 2000 | $160.0M | 549 | 23 |
| IBM | 1911 | $62.8B | 270,000 | 3,736 |
| Oracle | 1977 | $53.0B | 132,000 | 46,293 |
| Gomez | 1997 | $20.0M | 3,000 | 3 |
| FactSet | 1978 | $2.2B | 10,892 | 69 |
| Bottomline Technologies | 1989 | $500.0M | 2,344 | 11 |
| Intergraph | 1969 | $7.4B | 4,000 | - |
| Nuance Communications | 1992 | $1.4B | 6,501 | - |
BMC Software history FAQs
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BMC Software may also be known as or be related to BMC Software, BMC Software Development, Inc., BMC Software Inc, BMC Software Inc., BMC Software, Inc. and Bmc Software.