CA Technologies Buys ITKO For $330 Million In Cash

itko

CA Technologies today announced a definitive agreement to acquire privately-held Interactive TKO (ITKO), a provider of service simulation solutions for developing applications in composite and cloud environments, for $330 million in an all-cash transaction.

CA Technologies says the acquisition of ITKO will add a new dimension to modern IT management and extend it to encompass the entire service delivery lifecycle.

In particular, the acquisition should help its customers overcome the limitations of current organizational approaches, breaking down the silos across development, testing and operations.

For the trailing 12-month period ending March 31, 2011, ITKO reported revenue of approximately $39 million, more than doubling the prior 12-month period. For this same period, ITKO was profitable and generated positive cash flow.

The acquisition is expected to be completed within three months, pending regulatory approval.

At the close of the transaction, Shridhar Mittal, president and CEO of ITKO, will join CA Technologies as general manager of ITKO, a division of CA Technologies.

It is anticipated that all of ITKO’s approximately 120 employees will join CA Technologies.

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