Broadcom to acquire CA Technologies for $18.9 billion1 min read


Broadcom to acquire CA Technologies for $18.9 billion

Associated Press

SAN JOSE, Calif. (AP) – 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.

Check this out  The Latest: Death sentence for ex-doctor who killed 4...

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.


Sorry we are not currently accepting comments on this article.