© yuri arcurs dreamstime.com Business | July 12, 2018
Broadcom: Qualcomm deal tanked; CA Technologies might work
Broadcom Inc. has entered into a definitive agreement to acquire CA Technologies, an agreement, which has been approved by the boards of directors of both companies.
The all-cash transaction represents an equity value of approximately $18.9 billion, and an enterprise value of approximately $18.4 billion. The transaction is subject to customary closing conditions, including the approval of CA shareholders and antitrust approvals in the U.S., the EU and Japan. The closing of the transaction is expected for the fourth calendar quarter of 2018. Hock Tan, President and Chief Executive Officer of Broadcom, said, "This transaction represents an important building block as we create one of the world's leading infrastructure technology companies. With its sizeable installed base of customers, CA is uniquely positioned across the growing and fragmented infrastructure software market, and its mainframe and enterprise software franchises will add to our portfolio of mission critical technology businesses. We intend to continue to strengthen these franchises to meet the growing demand for infrastructure software solutions." "We are excited to have reached this definitive agreement with Broadcom," said Mike Gregoire, CA Technologies Chief Executive Officer. "This combination aligns our expertise in software with Broadcom's leadership in the semiconductor industry. The benefits of this agreement extend to our shareholders who will receive a significant and immediate premium for their shares, as well as our employees who will join an organization that shares our values of innovation, collaboration and engineering excellence. We look forward to completing the transaction and ensuring a smooth transition."
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