Semiconductor manufacturer Broadcom has announced plans to purchase CA Technologies for $19 billion, paying shareholders $44.50 per share. Founded in 1976, CA sells a variety of enterprise software, including cloud computing tools, mainframe solutions and development tools. It has $4.24 billion in annual profit.
Hock Tan, the chief executive of Broadcom, said in a statement: “This transaction represents an important building block as we create one of the world’s leading infrastructure technology companies.”
Earlier this year, Broadcom attempted to buy Qualcomm, but the Trump administration blocked the merger because of security concerns. This new acquisition is not expected to raise similar red flags.