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A Useful Addition
Observations on Software - Markets, Technology, and Companies
Monday, September 23, 2002
Observations on Software - Markets, Technology, and Companies
Monday, September 23, 2002
BMC Picks Up Remedy From Distressed Peregrine
NEW YORK (Reuters) - Troubled software maker Peregrine Systems Inc on Sunday said it filed for bankruptcy protection and that it plans to sell its coveted Remedy unit to BMC Software Inc for $350 million in cash -- less than a third the price Peregrine paid for it. The company also said it would file suit for more than $1 billion against its former auditor Andersen LLP and related parties whom Peregrine blames for not detecting the problems that lead to its bankruptcy.
NEW YORK (Reuters) - Troubled software maker Peregrine Systems Inc on Sunday said it filed for bankruptcy protection and that it plans to sell its coveted Remedy unit to BMC Software Inc for $350 million in cash -- less than a third the price Peregrine paid for it. The company also said it would file suit for more than $1 billion against its former auditor Andersen LLP and related parties whom Peregrine blames for not detecting the problems that lead to its bankruptcy.
9:04:44 PM 