Tampa's up-and-coming Numara Software bought by Houston firm for reported $300 million
Another one of Tampa Bay's sharper technology firms has just been picked off by a bigger company. Tampa's Numara Software, founded in 1991 as Blue Ocean Software, will be bought by Houston-based BMC Software, a $6 billion market-value, publicly traded (Nasdaq: BMC) firm. Terms of the deal were not disclosed initially but an SEC filing by BMC puts the deal at $300 million.
"The combined strengths of BMC and Numara will dramatically reshape the IT management market," Dave Hansen (left), Numara CEO, said in a statement. "Mid-sized and small business organizations will benefit from new choices and more importantly, will have more capabilities to manage IT in support of the changing needs of their business."
Here is the press release on the deal.
Numara currently has more than 13,000 customers worldwide for its service and asset management solutions that enable IT organizations to improve service to their end users.
To those in the Tampa Bay technology community trying to build a bigger base of significant tech companies headquartered here, this is a major setback. Numara was active a player in the tech community here. And while that may not change immediately, Numara becomes a unit of a Houston tech community. It matters. But that is the way, it seems for promising area tech companies.
Numara predecessor Blue Ocean Software, for those with long memories, was bought in 2002 for $177-million by Intuit. In Dec. 2005, the company was renamed Numara Software when TA Associates, one of the largest and most experienced private equity firms in the world, purchased it from Intuit.
Is this another private equity firm cashing out its stake in Numara to BMC for a good return? Is it simply too hard to grow a tech company, especially a software firm, without being picked off from afar? Can Tampa Bay ever generate the momentum to become a greater technology machine -- with bigger firms HQ'd here -- than it is?
-- Robert Trigaux, Business Columnist, Tampa Bay Times