CA Acquires ITKO
Information technology (IT) management software company, CA Inc. (CA) recently announced that it has acquired privately-held Interactive TKO, Inc for approximately $330 million in cash. The company is a leading provider of service simulation solutions for developing applications in composite and cloud environments.
This acquisition is expected to add a critical dimension to modern IT management and enhance the efficiency of the entire service delivery life cycle. In particular, the acquisition will help customers overcome the limitations of current organizational approaches, breaking down the silos across development, testing and operations.
CA expects the deal to be completed in three months. The company expects the acquisition to affect profit in fiscal 2012 and 2013 but be accretive to 2013 adjusted earnings. Interactive TKO delivered $39.0 million in revenues in its last fiscal year that ended on March 31, significantly up from the previous year.
The news of this acquisition helped CA Inc. shares move up 16 cents and finish at $22.63.