Tech firm BMC to go private

US SOFTWARE firm BMC agreed to be taken private yesterday in a $6.9bn (£4.4bn) deal after management caved in to pressure from the firm’s biggest shareholder.

A group led by private equity firms Bain Capital and Golden Gate Capital said the deal represented “an attractive premium to the company’s stock price [before speculation over the acquisition began]”.

It is a victory for top shareholder Elliott Management which has wanted the deal for some time.