Broadcom announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired with respect to the proposed acquisition of CA Technologies (NASDAQ: CA).
Expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending transaction, which was announced on July 11, 2018.
Broadcom believes it will be able to complete the merger in the fourth calendar quarter of 2018.
Broadcom to acquire CA Technologies for $18.9 billion
Broadcom agreed to acquire CA Technologies (NASDAQ: CA) for $44.50 per share in cash, representing an enterprise value of $18.9 billion -- a premium of approximately 20% to the closing price of CA common stock on July 11, 2018.
CA, which was founded by Charles Wang and Russell Artzt in 1976 and formerly known as Computer Associates, is one of the world's leading providers of information technology (IT) management software and solutions. The company is based in New York City and is primarily known for its B2B mainframe, distributed computing, and enterprise software.
Broadcom notes that CA benefits from predictable and recurring revenues with the average duration of bookings exceeding three years.
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."
CA, which was founded by Charles Wang and Russell Artzt in 1976 and formerly known as Computer Associates, is one of the world's leading providers of information technology (IT) management software and solutions. The company is based in New York City and is primarily known for its B2B mainframe, distributed computing, and enterprise software.
Broadcom notes that CA benefits from predictable and recurring revenues with the average duration of bookings exceeding three years.
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."
