New Dimension Software Approves BMC Acquisition
New Dimension Software Ltd. (Irvine, Calif.) announced that its shareholders have approved the share purchase and tender agreement with Houston-based BMC Software Inc., essentially clearing the way for BMC's acquisition of New Dimension.
This approval comes one month after BMC signed the share purchase and tender agreement to acquire New Dimension for $52.50 per share.
With the acquisition of New Dimension, BMC is expected to increase its ability to deliver its solutions, which consist primarily of application service assurance (ASA) products that improve the availability, performance and recovery of business-critical applications. New Dimension specializes in the development of systems management software for complex distributed systems.
BMC Software will also gain a significant presence in Israel, home of New Dimension Software's worldwide headquarters and a major center for software development and technical expertise. BMC Software intends to maintain and expand New Dimension Software's operations in Israel, according to published reports.
"The acquisition of New Dimension Software is a perfect fit for BMC Software's global strategy of providing Application Service Solutions from the back office to the front office and beyond," says Max Watson, chairman, president and CEO of BMC Software. "This acquisition, along with our merger with Boole & Babbage, positions BMC Software as a top-tier player in the enterprise management industry focused on rapidly delivering value to a business"
Watson points out there is currently a "significant degree of product integration" between New Dimension and BMC. "This combination establishes a new center for technology building on strong skills and resources in Israel, which is renowned for its high degree of technical skills and superior technology workforce," he says. "We will be joining IBM, Intel, Microsoft and other leading high technology firms who have established significant operations in Israel."