Broadcom completes buy of CA Technologies, sells Veracode for USD 950 mln in cash

News IT United States 6 NOV 2018
Broadcom completes buy of CA Technologies, sells Veracode for USD 950 mln in cash
Broadcom said it has completed the USD 18.9 billion acquisition of CA Technologies. The deal was first announced in July but then hit a short hiccup in October, when a forged memo said it needed to be reviewed by the Committee on Foreign Investment (CFIUS). The deal nevertheless closed a bit earlier than expected. The CA Technologies shares will stop trading on the Nasdaq.

Broadcom also announced the sale of its Veracode business to an investment firm for USD 950 million in cash. The sale is expected to close in the fourth quarter, subject to regulatory approvals. Thoma Bravo said it will support Veracode's future operational and product development plans. Sam King, currently senior VP and GM of Veracode, will become its CEO. Veracode’s SaaS platform and services help security teams and software developers find and fix security-related defects at all points in the software development cycle. The company serves over 2,000 customers across a range of industries. 

CA Technologies' Greg Lotko will lead Broadcom's mainframe division while Ashok Reddy will lead its enterprise software division following the takeover. 

Categories:

IT

Companies:

Broadcom,  CA Technologies

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Global

Countries:

United States

Tags:

Corporate strategy, M&A buyouts & divestments, Officers & directors

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