KKR is exploring a sale of BMC Helix that could value the AI-driven IT service management platform at up to $1.5bn, Reuters reported.

The firm has appointed Jefferies to advise on the process. Initial bids have reportedly been received from private equity firms and corporate acquirers.

BMC Helix generates approximately $150m in EBITDA and $750m in annual recurring revenue. A transaction could value the business at eight to 10 times core profit, equating to as much as $1.5bn.

KKR spun off Helix from BMC Software in 2025 to create an independent IT service and operations platform. The potential sale comes as software valuations face pressure amid concerns that artificial intelligence advancements could disrupt business models and compress multiples.

KKR is also preparing groundwork for a possible IPO of BMC as early as 2026, following any Helix divestment.

The proposed transaction would test sponsor appetite for software assets in a market where public technology valuations have softened and M&A activity has slowed.

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