US: Broadcom completes CA buy

Broadcom announced that it has completed its acquisition of CA Technologies .

“Today, we are pleased to complete this transaction, which strengthens Broadcom’s position as a leading provider of semiconductor and infrastructure software solutions and enables us to better serve our customers,” said Hock Tan, President and Chief Executive Officer of Broadcom. “Broadcom has a track record of successfully integrating and growing the businesses we acquire. We believe this transaction will enable us to offer customers a leading portfolio of best-in-class solutions across a diverse set of technologies. We intend to invest in and grow the CA business to further enhance its capabilities in mission-critical infrastructure software solutions.”

Tan continued, “We are excited to announce that in connection with the completion of the CA transaction, Greg Lotko, previously at CA, has joined Broadcom as SVP & General Manager of the Mainframe Division and Ashok Reddy, previously at CA, has joined Broadcom as SVP & General Manager of the Enterprise Software Division. We would also like to welcome the outstanding team of employees at CA to the Broadcom family.”

Mainframes remain the backbone of the enterprise-computing environment, running mission-critical applications. It is estimated that mainframes process approximately 30 billion transactions per day and $7 trillion of credit card payments annually.

Full Content: PR News Wire