Major Houston-based software co. to acquire longtime competitor-turned-partner

Houston-based BMC Software Inc. has reached a deal to acquire Detroit-based Compuware Corp. — less than two years after reports surfaced about the possibility of a similar deal.

BMC is owned by global investment firm KKR & Co. LP (NYSE: KKR) and provides IT software and services to many of the world’s largest companies. Compuware is owned by private equity firm Thoma Bravo and provides mainframe application development, delivery and support solutions to the same types of companies.

This will…