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BMC Software’s 2002 acquisition of Peregrine Remedy was reported at an adjusted purchase price of $355 million. That figure differs from the original agreement’s $350 million cash price because the agreement allowed an adjustment; it also provided for BMC to assume specified liabilities. The transaction involved software and intellectual-property assets, not a consumer product called “Remedy.”
What BMC agreed to buy
The deal was an asset acquisition involving Peregrine Remedy, Inc., a Peregrine Systems subsidiary. The agreement describes the transfer of purchased assets, including software products and intellectual property, along with BMC’s assumption of specified liabilities. Closing was subject to bankruptcy court approval and entry of a sale order.
The Third Amendment identifies Peregrine Systems, Inc. as the “Stockholder,” Peregrine Remedy, Inc. as the “Company,” and BMC Software, Inc. as the “Purchaser.” The amendment was made November 18, 2002, and amended the original acquisition agreement dated September 20, 2002, as well as subsequent amendments. The Third Amendment provides the parties and amendment context.
Why the price is described as $355 million
The original agreement states a $350 million cash purchase price, subject to adjustment under its Section 2.4, plus the assumption of specified liabilities. A summary accompanying the Third Amendment reports that the purchase price was adjusted to $355 million and that the amendment addressed payment and escrow arrangements. These are distinct descriptions: $350 million is the original stated cash price, while $355 million is the amended purchase-price figure reported in the amendment summary. The available materials do not establish a complete final allocation of consideration.
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The amendment summary and document and the original acquisition agreement support those figures and terms.
What “Remedy” means here
“Remedy” refers to Peregrine Remedy, the company whose assets were involved in the transaction. In this headline, the word is a play on the company name and the reported $355 million deal figure. It should not be read as a reference to a current consumer product or a separate modern BMC offering.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Keep the later BMC–IBM case separate
The Peregrine transaction is unrelated to BMC Software’s later licensing and outsourcing dispute with IBM concerning AT&T. In that separate case, the Fifth Circuit described a district court award of $717,739,615 in direct damages 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. Those litigation figures and events have no connection to the 2002 Remedy acquisition price. The Fifth Circuit opinion and Kyndryl’s 2025 annual report address that separate case.
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