March 17, 2008 BMC Software signed a definitive agreement to purchase BladeLogic for $28.00 in cash per outstanding share of BladeLogic common stock or approximately $800 million, net of cash acquired.
When completed, the BladeLogic acquisition will add a significant, high-growth revenue stream to BMC, accelerating the companys growth expectations for revenues, earnings and cash flow.
This acquisition will combine BMCs BSM platform with BladeLogics data center automation solutions.
Over the last twelve months, BMC acquired and successfully integrated multiple companies whose performance continues to exceed expectations.
BMC expects this transaction to accelerate the company's top-line growth, and from an EPS perspective, BMC expects it to be slightly dilutive to non-GAAP earnings in fiscal year 2009, including the write-down of deferred revenues and one time integration and retention expenses, and accretive to non- GAAP earnings in fiscal year 2010.
The acquisition will be conducted by means of a tender offer for all of the outstanding shares of common stock of BladeLogic, followed by a second-step merger. The board of directors of BladeLogic has unanimously recommended that the stockholders of BladeLogic accept the offer. The offer will be subject to customary conditions, including regulatory approvals.
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