ISLANDIA, N.Y., Jan. 26, 2012 /PRNewswire/ -- CA
Technologies (NASDAQ:CA) today announced it entered into an
accelerated share repurchase agreement with Bank of America, N.A.,
under which the Company will repurchase $500
million of its common stock. The majority of the shares will
be delivered to the Company by the bank in the Company's fourth
quarter, ending March 31,
2012. The Company will acquire these common shares as part of
its $1.5 billion stock repurchase
program it announced on Jan. 24,
2012.
The specific number of shares to be repurchased will be based
generally on the volume-weighted average share price of the
Company's common shares. A Current Report on Form 8-K with
additional details on this transaction will be filed
today.
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About CA Technologies
CA Technologies (NASDAQ: CA) is an IT management software and
solutions company with expertise across all IT environments — from
mainframe and distributed, to virtual and cloud. CA Technologies
manages and secures IT environments and enables customers to
deliver more flexible IT services. CA Technologies innovative
products and services provide the insight and control essential for
IT organizations to power business agility. The majority of the
Global Fortune 500 relies on CA Technologies to manage evolving IT
ecosystems. For additional information, visit CA Technologies at
www.ca.com.
Cautionary Statement Regarding Forward-Looking
Statements
Repurchases under the Company's stock repurchase program are
expected to be made with cash on hand and may be made from time to
time, subject to market conditions and other factors, in the open
market, through solicited or unsolicited privately negotiated
transactions or otherwise. The program, which is authorized through
fiscal year 2014, does not obligate the Company to acquire any
particular amount of common stock, and it may be modified or
suspended at any time at the Company's discretion. Certain
statements in this communication (such as statements containing the
words "believes," "plans," "anticipates," "expects," "estimates,"
"targets" and similar expressions) constitute "forward-looking
statements" that are based upon the beliefs of, and assumptions
made by, the Company's management, as well as information currently
available to management. These forward-looking statements
reflect the Company's current views with respect to future events
and are subject to certain risks, uncertainties, and assumptions.
A number of important factors could cause actual results or
events to differ materially from those indicated by such
forward-looking statements, including: the ability to achieve
success in the Company's strategy by, among other things,
increasing sales in new and emerging enterprises and markets,
enabling the sales force to sell new products, improving the
Company's brand in the marketplace and ensuring the Company's set
of cloud computing, Software-as-a-Service and other new
offerings address the needs of a rapidly changing market, while not
adversely affecting the demand for the Company's traditional
products or its profitability; global economic factors or political
events beyond the Company's control; general economic conditions
and credit constraints, or unfavorable economic conditions in a
particular region, industry or business sector; failure to expand
partner programs; the ability to adequately manage and evolve
financial reporting and managerial systems and processes;
acquisition opportunities that may or may not arise; the ability to
integrate acquired companies and products into existing businesses;
competition in product and service offerings and pricing; the
ability to retain and attract qualified key personnel; the ability
to adapt to rapid technological and market changes; the ability of
the Company's products to remain compatible with ever-changing
operating environments; access to software licensed from third
parties; use of software from open source code sources; discovery
of errors in the Company's software and potential product liability
claims; any significant amounts of debt and possible future credit
rating changes; the failure to protect the Company's intellectual
property rights and source code; fluctuations in the number, terms
and duration of our license agreements as well as the timing of
orders from customers and channel partners; reliance upon large
transactions with customers; risks associated with sales to
government customers; breaches of the Company's software products
and the Company's and customers' data centers and IT environments;
third-party claims of intellectual property infringement or royalty
payments; fluctuations in foreign currencies; failure to
effectively execute the Company's workforce reductions; successful
outsourcing of various functions to third parties; potential tax
liabilities; and other factors described more fully in the
Company's filings with the Securities and Exchange
Commission. Should one or more of these risks or
uncertainties occur, or should our assumptions prove incorrect,
actual results may vary materially from those described herein as
believed, planned, anticipated, expected, estimated or
targeted. The Company assumes no obligation to update the
information in this communication, except as otherwise required by
law. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
Press Contact:
Bill Hughes
212-415-6828
William.Hughes@ca.com
SOURCE CA Technologies