Broadcom completes $18.9 billion purchase of CA Technologies
The former headquarters of CA Technologies in Islandia will now be leased by Broadcom. Credit: Kevin P. Coughlin
CA Technologies, which was based in Islandia for much of its 42-year history, was absorbed into Broadcom Inc. on Monday with the close of an $18.9 billion acquisition announced in July.
The deal's close followed regulatory clearance by the European Union in October and two weeks after the death of Charles Wang, who co-founded the enterprise software maker and helped make it a Long Island technology icon with 20,000 employees at its peak.
Only 25¢ for 5 months
CA Technologies, which was based in Islandia for much of its 42-year history, was absorbed into Broadcom Inc. on Monday with the close of an $18.9 billion acquisition announced in July.
The deal's close followed regulatory clearance by the European Union in October and two weeks after the death of Charles Wang, who co-founded the enterprise software maker and helped make it a Long Island technology icon with 20,000 employees at its peak.
Broadcom, based in San Jose, California, a maker of semiconductors used in set-top boxes and other devices, completed the acquisition at the start of its 2019 fiscal year.
In 2014 CA moved its headquarters to Manhattan. In May the company announced a restructuring plan that included 800 layoffs to a workforce of about 11,000. At the time, officials said the impact on Islandia's 1,000 employees — down from 1,400 in 2014 — was unclear.
A CA spokeswoman said Friday there were no additional changes at the Islandia site that she could confirm.
Broadcom did not respond to a request for comment Monday.
CA sold its 778,000-square-foot Islandia facility in 2006, and Broadcom now has CA's lease on the building through August 2021.
Peter Goldsmith, chairman of the Long Island Software & Technology Network business group, said CA's acquisition by Broadcom will have scant effect on Long Island's tech community.
"CA left Long Island a long time ago," he said.
The last day of trading for CA stock was Friday, when shares edged up 0.07 percent to close at $44.44.
S&P Dow Jones Indices last week announced that Keysight Technologies Inc., based in Santa Rosa, California, would replace CA in the S&P 500 index.
Sneak peek inside Newsday's fall Fun Book NewsdayTV's Elisa DiStefano and Newsday deputy lifestyle editor Meghan Giannotta explore the fall 2024 issue of Newsday's Fun Book.