SAN JOSE, Calif., Nov. 5, 2018 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced that it has completed its acquisition of CA Technologies (NASDAQ: CA) ("CA").
CA's common stock will now cease to be traded on the NASDAQ and CA will operate as a wholly owned subsidiary of Broadcom.
"Today, we are pleased to complete this transaction, which strengthens Broadcom's position as a leading provider of semiconductor and infrastructure software solutions and enables us to better serve our customers," said Hock Tan, President and Chief Executive Officer of Broadcom. "Broadcom has a track record of successfully integrating and growing the businesses we acquire. We believe this transaction will enable us to offer customers a leading portfolio of best-in-class solutions across a diverse set of technologies. We intend to invest in and grow the CA business to further enhance its capabilities in mission-critical infrastructure software solutions."
Tan continued, "We are excited to announce that in connection with the completion of the CA transaction, Greg Lotko, previously at CA, has joined Broadcom as SVP & General Manager of the Mainframe Division and Ashok Reddy, previously at CA, has joined Broadcom as SVP & General Manager of the Enterprise Software Division. We would also like to welcome the outstanding team of employees at CA to the Broadcom family."
Mainframes remain the backbone of the enterprise-computing environment, running mission-critical applications. It is estimated that mainframes process approximately 30 billion transactions per day and $7 trillion of credit card payments annually.1 Given the importance of mainframes to large enterprises, Broadcom believes the acquisition of CA provides a strong and stable market opportunity for the company.
CA's Enterprise Software solutions link everything from mobile to mainframe, integrating systems of record, providing AI-driven systems to deliver business agility with quality, security, and compliance. Enterprise Software solutions for both private and public cloud consists of Project Portfolio Management, Agile Planning and Requirements, Automation, API Management, Continuous Testing, Security, and AIOps. The Total Addressable Market (TAM) for these solutions continues to grow and Broadcom believes there are significant future opportunities in this market.
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