BMC Software’s 2002 purchase of Peregrine Remedy was reported at an amended purchase price of $355 million. That figure is distinct from the original agreement’s $350 million cash price, which was subject to adjustment and accompanied by BMC’s assumption of specified liabilities.
What did BMC acquire?
The transaction concerned Peregrine Remedy, Inc., a Peregrine Systems subsidiary, and its software-related assets—not a consumer product called Remedy. The acquisition agreement described a transfer of purchased assets that included software products and intellectual property, along with BMC’s assumption of specified liabilities. The transaction was subject to bankruptcy court approval and a sale order. The agreement’s asset-transfer and approval terms describe the structure of the deal.
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Why do the documents show both $350 million and $355 million?
The original acquisition agreement, dated September 20, 2002, set a $350 million cash purchase price, subject to adjustment under Section 2.4, and separately provided for the assumption of specified liabilities. Those terms are in the original agreement.
A Third Amendment made November 18, 2002, changed the deal terms. Justia’s page summary for the amendment reports that the purchase price was adjusted to $355 million and that the amendment addressed payment and escrow arrangements. The $355 million is therefore the amendment’s reported adjusted purchase price; it should not be described as the original $350 million cash amount plus liabilities, because the available materials do not establish a complete final allocation of consideration.
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Who were the parties?
The Third Amendment names Peregrine Systems, Inc. as “Stockholder,” Peregrine Remedy, Inc. as “Company,” and BMC Software, Inc. as “Purchaser.” It was made on November 18, 2002, and amended the September 20, 2002 acquisition agreement and earlier amendments. The amendment’s party labels and date appear in the transaction document.
What the available deal record does not establish
- The exact closing date is not substantiated by the cited transaction materials.
- The materials do not provide a complete final allocation of the amended consideration between cash, adjustments, and assumed liabilities.
Accordingly, the soundest description is that the original agreement set a $350 million cash price subject to adjustment, while the amendment summary reports an adjusted purchase price of $355 million.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Do not confuse the deal with BMC’s later IBM case
The Peregrine acquisition is separate from BMC Software’s later licensing and outsourcing dispute with IBM concerning AT&T. In that case, the Fifth Circuit described a district court direct-damages award of $717,739,615 in unpaid license fees before reversing the liability judgment on April 30, 2024. Kyndryl’s 2025 annual report says the U.S. Supreme Court denied BMC’s request for review in March 2025. The Fifth Circuit opinion and Kyndryl’s 2025 annual report concern that separate dispute, not the 2002 purchase of Peregrine Remedy.
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