BMC Software to Buy Israeli Tech Company

BMC Software Inc., Houston-based maker of corporate software, said Monday it agreed to buy Israel-based New Dimension Software Ltd. for more than $650 million in cash as it seeks to expand its sales abroad and gain new technology.

BMC will pay $52.50 a share for New Dimension, whose North American operations are based in Irvine. The company makes software that manages large computer networks.

New Dimension, of Tel Aviv, has a work force of 530, including about 125 assigned to its North American operations. About half its employees work in New Dimension’s development labs and facilities in Israel; the other half make up its sales and marketing operations in North America, which accounted for 67% of last year’s overall revenues for the company.

No layoffs in Orange County are expected, company staff said Monday.