CA Technologies today announced that it has entered into a definitive agreement to divest its CA arcserve data protection business (arcserve) to Marlin Equity Partners (Marlin).
Terms of the transaction, which is expected to close in the second quarter of fiscal year 2015 subject to certain approvals, were not disclosed. All arcserve business activity will now be recognised by the company as discontinued operations. As a result, CA Technologies filed a Form 8-K to update its fiscal year 2015 guidance and provide select financial information. A more detailed disclosure of the financial effects of the transaction will be disclosed during CA Technologies first quarter earnings announcement on July 23, 2014.
“We are very pleased with this transaction, and look forward to a seamless transition for our customers, partners and arcserve employees,” said Jacob Lamm, Executive Vice President, Strategy and Corporate Development, CA Technologies. “CA continues to sharpen its focus and actively manage its portfolio, divesting non-core assets and making investments in areas of core capability. This transaction also further refines our global partner strategy as we continue to build CA for growth.”
A backup and recovery software solution, arcserve helps companies ensure the availability of mission-critical systems, applications and data. It is designed for ease of use and mixed IT environments, with a unified architecture that makes protecting physical, virtual and cloud systems simple and effective.
“We are committed to providing the strategic and operational support necessary to create long-term value for arcserve and look forward to working closely with CA Technologies through the transition,” said Michael Anderson, Vice President at Marlin. Foros acted as financial advisor to CA Technologies on this divestiture.
