BMC Software Inc. (NYSE: BMC) has notified Ogen Yielding Real Estate Ltd. (TASE:OGEN) that it wants to shorten its lease to part of its premises in the high-tech park of Ramat Hahayal in north Tel Aviv. Ogen disclosed the notice in its financial report for the fourth quarter.
BMC rents 15,515 square meters in two buildings in Ramat Hahayal. BMC sublets 5,600 square meters of this space to various tenants. BMC signed the ten-year lease for the premises in 2002. Ogen stated that BMC wants to terminate part of its lease contract early, and will pay the necessary compensation from the advance rental payment. Ogen said that it was examining BMC's request.
In December 2008, BMC announced a 6% cut in its global workforce, amounting to 350 out of 5,600 employees. The layoffs included 25 employees in Israel.
Ogen is a subsidiary of Ocif Investments and Development Ltd. (TASE: OCIF), which Shlomo Eisenberg acquired last year through Isras Investment Co. (TASE: ISRS).
BMC Israel refers queries about its lease to Ogen, which declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on March 15, 2009
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