Financial Daily from THE HINDU group of publications
Wednesday, Dec 17, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 17, 2003 |
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Info-Tech
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Mergers & Acquisitions BMC Soft to buy Magic Solutions Our Bureau
Bangalore , Dec 16 BMC Software Inc, a provider of enterprise management solutions, said on Tuesday that it intended to acquire the assets of Magic Solutions from Network Associates for $47 million in a cash deal. Magic Solutions, a division of Network Associates, provides help desk software and related solutions to small and mid-sized companies and has R&D operations consisting of some 31 engineers in Bangalore. This acquisition is expected to strengthen BMC Software's position in the IT service management market by increasing its reach to the SME segment as Magic has more than 4,000 customers using its service desk solutions, said a BMC statement. The acquisition, expected to close within 60 days, would add approximately 200 employees from Magic Solutions' operations in US, India, Canada and Europe to BMC Software. Magic Solutions' assets, which include Magic Service Desk and Magic Help Desk, would become part of BMC's Software Remedy business unit, the statement added.
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