This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Systems-management software vendor Peregrine Systems last week filed for bankruptcy protection and agreed to sell its Remedy help-desk software business to BMC Software for $350 million in cash. Peregrine says Remedy's sale will help it reduce debt and continue operations.
BMC would gain about $250 million in revenue from 6,000 licensees of Remedy, which adds customer-support and help-desk functions to BMC's application-monitoring products. BMC says the deal will add to its earnings per share within a year.
Peregrine sought Chapter 11 protection after it was unable to file audited financial statements for the past three years. The company blames its auditors and last week filed a lawsuit against Arthur Andersen and others seeking more than $250 million in damages.
Financial misstatements have wiped out 20% of the company's reported revenue in the past three years, and Peregrine is under investigation by the Securities and Exchange Commission for misstating revenue.
We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
State of the CloudCloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
The Cloud Gets Ready for the 20'sThis IT Trend Report explores how cloud computing is being shaped for the next phase in its maturation. It will help enterprise IT decision makers and business leaders understand some of the key trends reflected emerging cloud concepts and technologies, and in enterprise cloud usage patterns. Get it today!