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Bain, Golden Gate enter battle for Compuware

  • Bain and Golden Gate Capital have reportedly teamed up to make a bid for software provider Compuware (CPWR), whose market cap is $2.34B.
  • The private-equity firms agreed to acquire larger rival BMC Software (BMC) in May, although they wouldn't necessarily merge Compuware with BMC.
  • Bain and Golden Gate could face competition from Thoma Bravo and Vista Capital.
  • Any deal could represent an exit for activist investor Elliot Management, Compuware's largest shareholder with an 8.6% holding. Elliot tried to buy Compuware a year ago but was rebuffed.
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