Broadcom Bids to Acquire CA in a Strategically Puzzling, but Financially Reasonable Deal
On July 11, Broadcom announced it will acquire CA Technologies for $44.50 per share in cash, or $18.9 billion. Four months after the firm's failed attempt to acquire Qualcomm, Broadcom is back in the M&A mix, though this deal doesn't have any clear synergies, in our view. CA is a key vendor of IT management software and solutions for mainframe infrastructure and enterprises. The deal has all the signs of a typical Broadcom deal, including: a modest premium (20% over closing price on July 11)...CA is a provider of software solutions enabling customers to plan, develop, automate, manage and secure applications across mobile, cloud, distributed and mainframe platforms. The company has three operating segments: Enterprise Solutions, which includes products that are designed for mobile, cloud, and distributed computing environments and run on industry standard servers; Mainframe Solutions, which includes solutions for the IBM z Systems
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