CA Technologies is buying Rally Software Development Corp. for approximately $480 million.
Founded in 2001, Colorado-based Rally Software has approximately 500 employees across four continents and FY 2015 sales of $88 million. The company filed a $70 million IPO in 2013.
"Rally's cloud-based Agile development platform complement and expand CA's strengths in the areas of DevOps and Management Cloud," said Mike Gregoire, CEO, CA Technologies.
"Every developer dreams of creating truly transformative software that responds to a business challenge extremely quickly," Gregoire added. "Joining forces with Rally makes this dream a possibility for millions of developers worldwide, and in turn opens up the possibility of a whole new range of experiences driven by software."
"The acquisition of Rally is a significant milestone in CA's strategy to help customers thrive in the application economy, in which software applications are ubiquitous - driving every facet of business in every part of the world," he said.
The merger is expected to close in the second quarter of CA's fiscal 2016.
Updated Date: May 28, 2015 12:18:03 IST