BMC Software acquires Vivek Paul's enterprise social network KineticGlue
Houston-based software firm BMC Software has acquired Bangalore-based KineticGlue Online Communities Pvt Ltd, a cloud-based enterprise software company set up by Akansa Capital founder and former Wipro chief Vivek Paul. The transaction details of the deal are not known.
The development was first reported by YourStory.in. According to the report, the deal was sealed around six weeks ago.
Post acquisition, Paul will move out of KineticGlue, said the report.
Founded in July 2010, KineticGlue's platform enables smooth online collaboration for distributed teams, allowing them to manage people, documents and projects easily. The firm has close to 10,000 customers across the world, including Future Group, Dell India and L&T. A couple of years ago, KineticGlue acquired Injoos Web Solutions, a Bangalore-based provider of social media tools for enterprises.
A BITS Pilani graduate with an MBA from the University of Massachusetts, Paul joined Wipro in 1999 and is credited to have led the company from $150 million in revenues to a billion-dollar giant in just about six years. He quit Wipro in 2005 to join the private equity giant TPG. He also worked with GE, consulting firm Bain & Co and beverage & food giant PepsiCo. In 2009, he founded private equity firm Akansa Capital.
Founded in 1980, BMC Software provides business service management and cloud management solutions to SMEs as well as large IT organisations and manages their business services and applications across distributed, mainframe, virtual and cloud environments. The firm has market coverage in more than 120 countries and has approximately 6,500 employees worldwide. BMS has acquired around 40 firms so far. In FY 2012, it reported $2.2 billion revenues, with a net profit of $562 million (excluding items). The company has partnerships with Accenture, Cisco, salesforce.com, Dell, Red Hat and NetApp.
(Edited by Joby Puthuparampil Johnson)