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BMC Buys Identify Software for $150 Million

BMC Software Inc. said Monday it has agreed to buy diagnostic software maker Identify Software Ltd. for $150 million in cash.

The companies said they expect the sale to close in the April-June period.

Houston-based BMC said Identify Software, based in Israel, would add to its transaction-management offerings for corporate customers.

Identify Software's products are designed to help companies find and fix breakdowns in the handling of electronic transactions. The privately held company says that more than 500 companies in many industries use its products.

BMC earned $75 million on sales of $1.46 billion in its last complete fiscal year.

BMC shares fell 15 cents, to finish at $21.86 Monday on the New York Stock Exchange.

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