Broadcom acquires CA Technologies for $18.9 billion, adds software to portfolio

CA Technologies Sold To Broadcom For $19B

CA Technologies sells the software behind database mainframes, cloud computing systems and virtual machine environments.

Broadcom Inc., a semiconductor maker whose acquisitions have reshaped the chip industry, reached an agreement to purchase CA Technologies for about $19 billion, according to a person familiar with the process, branching out into software to diversify its business. Based on CA's closing price of $37.21 Wednesday, the offer represents a 20 percent premium for CA shareholders.

Hock Tan, CEO of Broadcom, said CA Technologies will be "an important building block" and the company can utilize a large base of new customers.

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CA Technologies stock was up over 16% in after-hours trading immediately following the announcement of the deal.

The takeover would be a major strategic move for Broadcom, coming just months after its $100 billion-plus hostile bid for Qualcomm Inc. was blocked by President Donald Trump. Trump said there is "credible evidence" that Broadcom's proposed move to exercise control of Qualcomm "might take action that threatens to impair the national security of the United States".

In November, Broadcom completed its acquisition of Brocade Communications for US$5.9 billion to boost Broadcom's position in enterprise storage and networking.

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