UPDATE: CA To Acquire Software Maker Interactive TKO For $330 Million
30 Juin 2011 - 12:22AM
Dow Jones News
CA Technologies (CA) agreed to acquire privately held business
software maker Interactive TKO Inc. for $330 million in a move that
expands the New York company's offerings for information technology
management.
Interactive TKO's products help staffers at corporate IT
departments build, test and deploy applications more quickly. It
can allow them to run tests or plan software launches virtually,
without assembling physical machines--an onerous, often expensive
task that may not be possible for those developing using cloud
computing.
The deal comes as corporate IT departments are urged to reduce
costs and speed development, many relying on an array of computing
power and development tools powered by third parties.
The acquisition of Interactive TKO, which should close within
three months, is expected to lower CA's earnings in fiscal 2012 but
add to the bottom line the following year. Interactive TKO, based
in Plano, Texas, reported revenue of about $39 million for the 12
months ended March 31, more than double from the prior period.
CA, which makes software for mainframe and other corporate
computers, reported relatively stable operating profit for the past
few years, while it made significant cost cuts before and during
the recession.
Interactive TKO President and Chief Executive Shridhar Mittal
will join CA as a general manager of the unit, which will become a
division of CA. CA expects Interactive TKO's employees, which total
about 120, will also join the parent.
"It's a great little product," said Melinda Ballou, a program
director at advisory research firm IDC, about Interactive TKO's
offerings. "It's a real pain to set up these configurations to
resemble your environments for testing."
CA shares rose 17 cents to $22.63 during the regular session and
were inactive after hours.
-By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;
matthew.jarzemsky@dowjones.com
(John Kell contributed to this report.)
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