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Broadcom Closes Acquisition Of CA Technologies

Broadcom Inc. (AVGO) said that it has completed its acquisition of CA Technologies (CA). CA's common stock will now cease to be traded on the NASDAQ and CA will operate as a wholly owned subsidiary of Broadcom.

Broadcom said that mainframes remain the backbone of the enterprise-computing environment, running mission-critical applications. It is estimated that mainframes process approximately 30 billion transactions per day and $7 trillion of credit card payments annually. Given the importance of mainframes to large enterprises, Broadcom believes the acquisition of CA provides a strong and stable market opportunity for the company.

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