BMC Software Inc. (NYSE: BMC) announced today that it would buy BladeLogic (NASDAQ: BLOG) for $800 million cash, valuing BladeLogic at $28 per share.

The $28 per share purchase price is almost a 20% premium to BladeLogic's closing price Friday, before the deal was announced. With this acquisition, BMC seeks to increase its portfolio of programs that automate customers' data centers. BMC has existing software suites that manage computer systems, but the BladeLogic acquisition is seen as adding strength to an area rife with competitors such as Hewlett-Packard Co. (NASDAQ: HPQ).

BladeLogic programs help simultaneously update programs and make changes over vast computer networks. For instance, if a new security patch becomes available, the program can automatically update individual PCs operating systems without necessitating a support person to go physically to every single network computer. BladeLogic's offerings also allow servers and PCs to be managed together.

"We coveted this business for a long time. Getting them to sell was not an easy process. It took time," BMC CEO Bob Beauchamp said in a conference call about the purchase. "Organizations around the world will spend more than $140 billion dollars this year running data centers. Automation is the only way IT can bring this spending under control and still meet the reliability and time-to-market requirements of their businesses.  BMC’s acquisition of BladeLogic will create the new IT Service Automation leader, unique in its ability to provide these critical capabilities.  It is a natural and very significant next step in our vision of Business Service Management.”

BladeLogic CEO Dev Ittycheria said on the conference call that his company's board shopped around for other offers after getting a proposal from BMC, though he didn't give details of the process. It was widely speculated that BladeLogic, given its relatively small size and attractive business, would be acquired.

BMC has said the deal will reduce its operating earnings next year but add to its profits by 2010. Though BladeLogic shareholders still have to vote on the deal, it has been unanimously recommended by the board and is expected to easily pass.

BMC shares are are down 6% on the news.

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