KKR is exploring a sale of BMC Helix that could value the IT service management business at up to $1.5bn, according to a report by Reuters. The process is being advised by Jefferies, with initial interest received from both private equity firms and corporate buyers.
BMC Helix, which was spun out from BMC Software in 2025, is an AI-driven IT service and operations platform used by enterprises to automate service desks, manage incidents and assets, and monitor hybrid IT environments. The business competes with providers such as ServiceNow.
The company reportedly generates around $150m of EBITDA and approximately $750m in ARR, implying a valuation multiple of roughly eight to 10 times core profit, which would be as much as $1.5bn. Any transaction would test appetite for software deals amid recent volatility in public markets and concerns that advances in artificial intelligence could disrupt established software business models.
Following a potential sale of Helix, KKR is expected to begin planning for an IPO of BMC Software which could reportedly take place this year.
