(Bloomberg) — KKR & Co. is preparing to sell BMC Helix in a deal that could value the information technology management company at about $2 billion, including debt, people familiar with the matter said.
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The alternative asset manager is working with advisers to sell the business, which is being split from BMC Software, according to the people, who asked not be identified discussing confidential information. BMC said in October when it announced the separation that the two units would begin operating as independent businesses this year.
BMC Helix focuses on software tools that monitor and manage all the technology in an organization, competing with companies such as ServiceNow Inc.
Deliberations are ongoing and there’s no certainty a deal will be reached, the people said. Representatives for BMC and KKR declined to comment.
BMC’s split is is part of a surge in corporate breakups. In BMC’s case, the decision to break up followed earlier plans for an initial public offering. The company confidentially filed in 2023 for an IPO in which it could have been valued at up to $15 billion, Bloomberg News reported at the time.
(Updates with earlier IPO plan in fifth paragraph.)
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