Tags: broadcom | ca technologies | tech | microchip | acquisition

Broadcom to Acquire CA Technologies for $18.9 Billion

Broadcom to Acquire CA Technologies for $18.9 Billion
(G0d4ather/Dreamstime)

Thursday, 12 July 2018 06:47 AM

Chipmaker Broadcom says it is buying IT management software company CA Technologies for $18.9 billion in cash.

Broadcom CEO Hock Tan says the move is an important building block for the company as it aims to become a world-leading infrastructure technology provider.

The offer for $44.50 in cash is 20 percent higher than the closing price for CA's shares Wednesday. Shares in New York-based CA jumped 16 percent in after-hours trading. Shares in Broadcom, which is based in San Jose, California, dropped 6 percent.

Broadcom says it will pay for the acquisition with $18 billion in new debt. The boards of both companies approved the deal, which is targeted to close by the end of the year.

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Chipmaker Broadcom says it is buying IT management software company CA Technologies for $18.9 billion in cash.
broadcom, ca technologies, tech, microchip, acquisition
117
2018-47-12
Thursday, 12 July 2018 06:47 AM
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