[ibimage==34063==Large==none==self==ibimage_align-center]
Boulder-based Rally Software announced today it was bought by New York-based CA Technologies. The share price has been set at $19.50 per share, valuing Rally Software at about $480 million. Both companies’ boards have already approved the transaction, and the deal is expected to close by September.
“In a world driven by software, the powerful combination of Rally and CA will help our combined customers to better navigate changing markets, improve performance and deliver value faster - while accelerating the pace of disruption and developing a competitive advantage through technology,” Rally’s chairman and CEO Tim Miller said in a statement. “CA and Rally have more than four years of history working together, and we are thrilled to be taking this next step in our relationship to deliver unique value to both CA and Rally customers.”
When the deal is completed, Rally will operate as a part of CA Technologies, and is expected to keep its existing executive team. In total, Rally employs 500 people globally, with around 280 in Colorado. The company says it expects to keep their current employees in their current locations.
Rally creates software designed to help companies speed up the process of business development. The company went public in 2013 and has posted net losses for the last two years.
CA Industries, meanwhile, is one of the largest independent software companies in the world, and provides mainframe computer programs to large enterprises like banks and airlines. Last year the company had a net income of $846 million.
Have a tip for us or know of a company that deserves coverage? Email us via [email protected]
