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KKR co-founder Henry Kravis at Trump Tower. Photo by Drew Angerer/Getty Images

Private equity firm KKR this morning announced a deal to buy BMC Software from Bain Capital and Golden Gate Capital.

Bottom line: Expect BMC to soon begin buying up smaller enterprise software companies. As a source says: "It will probably become an acquisition engine again."

  • No terms were disclosed. We hear the price was below the $10 billion figure that has been bandied about, but well above the $6.9 billion that Bain and GGC paid to take BMC private five years ago.
  • Bain and GGC had previously tried to buy CA and then merge it with BMC, but ran into financing troubles. Rival bidder Thoma Bravo reportedly wanted to merge BMC with existing portfolio company Compuware.
  • KKR plans to go it alone, but don't be surprised if it ramps up the add-on acquisition engine (something BMC was famous for prior to its take-private). Nothing specific is baked into the deal, however.
  • In terms of organic growth, a source says that KKR believes Bain and GGC focused primarily on product, and that it can capitalize on available go-to-market.

Go deeper

35 mins ago - Health

Standardized testing becomes another pandemic victim

Photo: Edmund D. Fountain for The Washington Post via Getty

National standardized reading and math tests have been pushed from next year to 2022, the National Center for Education Statistics (NCES) announced Wednesday.

Why it matters: There’s mounting national evidence that students are suffering major setbacks this year, with a surge in the number of failing grades.

59 mins ago - World

European countries extend lockdowns

A medical worker takes a COVID-19 throat swab sample at the Berlin-Brandenburg Airport. Photo by Maja Hitij via Getty

Recent spikes in COVID-19 infections across Europe have led authorities to extend restrictions ahead of the holiday season.

Why it matters: "Relaxing too fast and too much is a risk for a third wave after Christmas," said European Commission President Ursula von der Leyen.

2 hours ago - Health

Africa CDC: Vaccines likely won't be available until Q2 of 2021

Africa CDC director Dr. John Nkengasong. Photo: Mohammed Abdu Abdulbaqi/Anadolu Agency via Getty

Africa may have to wait until the second quarter of 2021 to roll out vaccines, Africa CDC director John Nkengasong said Thursday, according to the Associated Press.

Why it matters: “I have seen how Africa is neglected when drugs are available,” Nkengasong said.