BMC Software has formally acquired the Remedy service management and support software unit of struggling Peregrine Systems for $355 million, the company said in a statement Thursday.Remedy provides service management software products including the Action Request System and a suite of packaged applications, including help desk, asset management and customer support. Remedy will continue as a separate unit within BMC, according to the statement.In September, Peregrine filed for Chapter 11 bankruptcy protection after facing allegations of financial mismanagement. It announced its intention to sell the Remedy unit to BMC at that time, with BMC providing funding to keep Peregrine going..Peregrine acquired Remedy in June 2001 in a combined cash-and-stock deal valued at more than $1 billion, with the intention of combining Remedy’s strength in the small and midsized business sector with Peregrine’s enterprise level products. Peregrine has said it is continuing to review its past accounting practices, which has already led to a downward restatement of $250 million of revenue for 2000 and 2001. Related content news analysis Western Digital keeps HDDs relevant with major capacity boost Western Digital and rival Seagate are finding new ways to pack data onto disk platters, keeping them relevant in the age of solid-state drives (SSD). By Andy Patrizio Dec 06, 2023 4 mins Enterprise Storage Data Center news analysis Global network outage report and internet health check Cisco subsidiary ThousandEyes, which tracks internet and cloud traffic, provides Network World with weekly updates on the performance of ISPs, cloud service providers, and UCaaS providers. By Ann Bednarz and Tim Greene Dec 06, 2023 286 mins Networking news analysis Cisco uncorks AI-based security assistant to streamline enterprise protection With Cisco AI Assistant for Security, enterprises can use natural language to discover policies and get rule recommendations, identify misconfigured policies, and simplify complex workflows. By Michael Cooney Dec 06, 2023 3 mins Firewalls Generative AI Network Security news Nvidia’s new chips for China to be compliant with US curbs: Jensen Huang Nvidia’s AI-focused H20 GPUs bypass US restrictions on China’s silicon access, including limits on-chip performance and density. By Anirban Ghoshal Dec 06, 2023 3 mins CPUs and Processors Technology Industry Podcasts Videos Resources Events NEWSLETTERS Newsletter Promo Module Test Description for newsletter promo module. Please enter a valid email address Subscribe