Revision as of 13:11, 30 April 2023 editWasted Time R (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers74,027 edits cite formatting; expand a bit re Suffolk County← Previous edit | Revision as of 17:33, 30 April 2023 edit undoWasted Time R (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers74,027 edits some text joinsNext edit → | ||
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==History== | ==History== | ||
⚫ | {{pic|Computer Associates logo.svg|Old logo of Computer Associates}} | ||
===1970s=== | ===1970s=== | ||
The company was established by ] and ] in 1976.<ref>{{Cite news |title=CA Changes Name to CA Technologies |language=en-US |work=eWEEK |url=http://www.eweek.com/enterprise-apps/ca-changes-name-to-ca-technologies |access-date=2018-09-16}}</ref><ref name="WSJ">{{Cite web |date=November 19, 2002 |title=Wang Quits Computer Associates, CEO Kumar Is Named Chairman |url=https://www.wsj.com/articles/SB1037628757755860428 |website=WSJ.com Wall Street Journal |quote=Computer Associates' Charles Wang stepped down as chairman and a ... Mr. Wang co-founded Computer Associates in 1976 and built the ... Kumar and Wang, along with Computer Associates co-founder Russell Artzt.}}</ref><ref>{{Cite web |url=https://www.bizjournals.com/newyork/news/2018/10/22/charles-wang-ca-technologies-co-founder-dies.html |title=Charles Wang, CA Technologies co-founder and long-time Islanders owner, dies |access-date=2020-06-26 |website=www.bizjournals.com}}</ref><ref>{{Cite web |date=2019-01-02 |title=LIBN 65th Anniversary Look Back: The 1970s |url=https://libn.com/2019/01/02/libn-65th-anniversary-look-back-the-1970s/ |access-date=2020-06-26 |website=Long Island Business News |language=en-US}}</ref> The company began with three employees,<ref name="nyt-2001"/> and was located in Manhattan in New York City,<ref name="libw-2003">{{cite news | url=https://libn.com/2003/04/25/1976-computer-associates-boots-up/ | title=1976: Computer Associates boots up | The company was established by ] and ] in 1976.<ref>{{Cite news |title=CA Changes Name to CA Technologies |language=en-US |work=eWEEK |url=http://www.eweek.com/enterprise-apps/ca-changes-name-to-ca-technologies |access-date=2018-09-16}}</ref><ref name="WSJ">{{Cite web |date=November 19, 2002 |title=Wang Quits Computer Associates, CEO Kumar Is Named Chairman |url=https://www.wsj.com/articles/SB1037628757755860428 |website=WSJ.com Wall Street Journal |quote=Computer Associates' Charles Wang stepped down as chairman and a ... Mr. Wang co-founded Computer Associates in 1976 and built the ... Kumar and Wang, along with Computer Associates co-founder Russell Artzt.}}</ref><ref>{{Cite web |url=https://www.bizjournals.com/newyork/news/2018/10/22/charles-wang-ca-technologies-co-founder-dies.html |title=Charles Wang, CA Technologies co-founder and long-time Islanders owner, dies |access-date=2020-06-26 |website=www.bizjournals.com}}</ref><ref>{{Cite web |date=2019-01-02 |title=LIBN 65th Anniversary Look Back: The 1970s |url=https://libn.com/2019/01/02/libn-65th-anniversary-look-back-the-1970s/ |access-date=2020-06-26 |website=Long Island Business News |language=en-US}}</ref> The company began with three employees,<ref name="nyt-2001"/> and was located in Manhattan in New York City,<ref name="libw-2003">{{cite news | url=https://libn.com/2003/04/25/1976-computer-associates-boots-up/ | title=1976: Computer Associates boots up | ||
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===1980s=== | ===1980s=== | ||
⚫ | {{pic|Computer Associates logo.svg|align=left|Old logo of Computer Associates}} | ||
Computer Associates had an ] in 1981 that garnered the company a modest $3.2 million.<ref name="campbell"/> Its stock traded on the ] using the stock symbol "CASI". | Computer Associates had an ] in 1981 that garnered the company a modest $3.2 million.<ref name="campbell"/> Its stock traded on the ] using the stock symbol "CASI". | ||
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By the end of the 1990s, Computer Associates was the dominant company among providers of utility software tools for the mainframe.<ref name="nyt-2001"/> Personal computer software firms such as ], ], and ] were much more recognizable as names to the general public.<ref name="campbell"/> but while this mainframe industry segment was not widely known, it was a renumeratively rewarding one.<ref name="nyt-2001"/> A profile in '']'' in 1996 was headlined "Computer Associates: Sexy? No. Profitable? You Bet ",<ref name="bw-1996">{{cite news | url=https://www.bloomberg.com/news/articles/1996-11-10/computer-associates-sexy-no-dot-profitable-you-bet#xj4y7vzkg | title=Computer Associates: Sexy? No. Profitable? You Bet | author-first=Amy | author-last=Cortese | magazine=Business Week | date=November 11, 1996}}</ref> and that accurately conveyed the company's place in the industry.<ref name="campbell"/> | By the end of the 1990s, Computer Associates was the dominant company among providers of utility software tools for the mainframe.<ref name="nyt-2001"/> Personal computer software firms such as ], ], and ] were much more recognizable as names to the general public.<ref name="campbell"/> but while this mainframe industry segment was not widely known, it was a renumeratively rewarding one.<ref name="nyt-2001"/> A profile in '']'' in 1996 was headlined "Computer Associates: Sexy? No. Profitable? You Bet ",<ref name="bw-1996">{{cite news | url=https://www.bloomberg.com/news/articles/1996-11-10/computer-associates-sexy-no-dot-profitable-you-bet#xj4y7vzkg | title=Computer Associates: Sexy? No. Profitable? You Bet | author-first=Amy | author-last=Cortese | magazine=Business Week | date=November 11, 1996}}</ref> and that accurately conveyed the company's place in the industry.<ref name="campbell"/> | ||
In May 1998 stock grants were issued to Wang and two others together worth $1.1 billion at the time.<ref>{{Cite news |last=Siwolop |first=Sana |date=1998-07-26 |title=INVESTING IT; Computer Associates' Drop Stuns Managers |language=en-US |work=The New York Times |url=https://www.nytimes.com/1998/07/26/business/investing-it-computer-associates-drop-stuns-managers.html |access-date=2020-09-18 |issn=0362-4331}}</ref> | |||
In 1999, Wang received the largest bonus in history at that time from a public company. The receipt of a $670 million stock grant that dated to the vesting of a 1995 ] occurred while the company faced a slowdown in European markets and an economic slump in Asia, both of which had affected CA's earnings and stock price.<ref>{{Cite web |title=Computer Associates Accounting Scandal |url=http://www.corporatenarc.com/cascandal.php |archive-url=https://web.archive.org/web/20110929074250/http://www.corporatenarc.com/cascandal.php |archive-date=September 29, 2011 |access-date=November 13, 2011 |publisher=Corporatenarc.com |df=mdy-all}}</ref> In total, the company took a $675 million after-tax charge for $1.1 billion in payouts to Wang and other top CA executives.<ref name="IDCH_History"/><ref>{{Cite web |date=April 19, 1999 |title=Executive Pay: Up, Up and Away, ''Business Week'' Online, April 19, 1999 |url=http://www.businessweek.com/1999/99_16/b3625017.htm |archive-url=https://web.archive.org/web/19990508050925/http://www.businessweek.com/1999/99_16/b3625017.htm |archive-date=May 8, 1999 |access-date=November 13, 2011 |website=Bloomberg BusinessWeek}}</ref> | In 1999, Wang received the largest bonus in history at that time from a public company. The receipt of a $670 million stock grant that dated to the vesting of a 1995 ] occurred while the company faced a slowdown in European markets and an economic slump in Asia, both of which had affected CA's earnings and stock price.<ref>{{Cite web |title=Computer Associates Accounting Scandal |url=http://www.corporatenarc.com/cascandal.php |archive-url=https://web.archive.org/web/20110929074250/http://www.corporatenarc.com/cascandal.php |archive-date=September 29, 2011 |access-date=November 13, 2011 |publisher=Corporatenarc.com |df=mdy-all}}</ref> In total, the company took a $675 million after-tax charge for $1.1 billion in payouts to Wang and other top CA executives.<ref name="IDCH_History"/><ref>{{Cite web |date=April 19, 1999 |title=Executive Pay: Up, Up and Away, ''Business Week'' Online, April 19, 1999 |url=http://www.businessweek.com/1999/99_16/b3625017.htm |archive-url=https://web.archive.org/web/19990508050925/http://www.businessweek.com/1999/99_16/b3625017.htm |archive-date=May 8, 1999 |access-date=November 13, 2011 |website=Bloomberg BusinessWeek}}</ref> | ||
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===Accounting scandal=== | ===Accounting scandal=== | ||
] | ] | ||
By 2000, CA had acquired about 200 companies. In that year, ] replaced Wang as chief executive officer. Then in 2002, Kumar became ] of Computer Associates' ]. | |||
⚫ | |||
⚫ | Meanwhile, the ] limited CA's acquisitions.<ref>{{cite news |url=https://www.justice.gov/atr/case-document/competitive-impact-statement-76 |title=COMPETITIVE IMPACT STATEMENT|date=2002-04-23|work=United States Department of Justice}}</ref> The company refinanced large amounts of debt, and a ] ensued between the board and shareholders.<ref>{{Cite news |last=Berenson |first=Alex |date=June 21, 2001 |title=Entrepreneur to Begin Proxy Fight for Computer Associates, ''New York Times,'' June 21, 2001 |work=New York Times |url=https://query.nytimes.com/gst/fullpage.html?res=9C05E4DE1630F932A15755C0A9679C8B63&sec=&spon=&pagewanted=all |access-date=November 13, 2011}}</ref> There were also questions regarding executive compensation, accounting methods, and insider-trading by Kumar.<ref>{{cite news |url=https://knowledge.wharton.upenn.edu/article/how-serious-was-the-fraud-at-computer-associates/ |title=How Serious Was the Fraud at Computer Associates?|date=2004-10-20|work=Wharton University of Pennsylvania}}</ref> In 2000, a shareholder-based class-action lawsuit accused CA of misstating more than $500 million in revenue in its 1998 and 1999 fiscal years in order to artificially inflate its stock price.<ref name="CA-Technologies-Jun-2000-10-K">{{Cite web |title=CA Technologies, Form 10-K, Annual Report, Filing Date Jun 9, 2000 |url=http://edgar.secdatabase.com/2205/35602800000020/filing-main.htm |access-date=Mar 19, 2013 |publisher=secdatabase.com}}</ref> | ||
⚫ | |||
⚫ | An investigation by the ] (SEC) followed, resulting in charges against the company and some of its former top executives.<ref name="CA-Technologies-May-2002-10-K">{{Cite web |title=CA Technologies, Form 10-K, Annual Report, Filing Date May 15, 2002 |url=http://edgar.secdatabase.com/1894/35602802000042/filing-main.htm |access-date=Mar 19, 2013 |publisher=secdatabase.com}}</ref> The SEC alleged that from 1998 to 2000, CA routinely kept its books open to include quarterly revenue from contracts executed after the quarter ended in order to meet Wall Street analysts' expectations.<ref>{{Cite web |title=SEC files securities fraud charges against Computer Associates, Inc |url=https://www.sec.gov/news/press/2004-134.htm |access-date=November 13, 2011 |publisher=Sec.gov}}</ref> In 2004, the company avoided indictment for involvement in the ] accounting scandal by reaching a settlement with the SEC and ], in which CA agreed to pay $225 million in restitution to shareholders and reform its corporate governance and financial accounting controls.<ref name="CA-Technologies-Jun-2005-10-K">{{Cite web |title=CA Technologies, Form 10-K, Annual Report, Filing Date Jun 29, 2005 |url=http://pdf.secdatabase.com/2760/0000950123-05-007982.pdf |access-date=Mar 19, 2013 |publisher=secdatabase.com}}</ref><ref>{{Cite news |last=Berenson |first=Alex |date=April 27, 2004 |title=Computer Associates Restates Timing of $2.2 Billion in Sales |work=] |url=https://www.nytimes.com/2004/04/27/business/computer-associates-restates-timing-of-2.2-billion-in-sales.html |url-access=subscription}}</ref><ref>{{Cite news |date=January 17, 2007 |title=2 Years in Prison for Ex-Software Executive |work=] |url=https://www.nytimes.com/2007/01/17/business/17compute.html |url-access=subscription}}</ref> | ||
In other words, in 2000, ] replaced ] as ]. In 2002, Kumar became ] of Computer Associates' ]. In 2006, he was sentenced to 12 years in prison and fined $8 million for his role in a massive accounting fraud at Computer Associates.<ref>{{Cite web |date=November 3, 2006 |title=Former IT boss jailed for 12 years over '35-day month' scam |url=https://www.independent.co.uk/news/business/news/former-it-boss-jailed-for-12-years-over-35-day-month-scam-422777.html |website=independent.co.uk}}</ref><ref>{{Cite news |date=November 6, 2006 |title=Kumar Gets Hard Time |page=15 |work=]}}</ref><ref>{{Cite news |date=January 17, 2007 |title=2 Years in Prison for Ex-Software Executive |work=] |url=https://www.nytimes.com/2007/01/17/business/17compute.html |url-access=subscription |quote=Mr. Kumar .. 12 years in prison in November}}</ref> | |||
Eight CA executives pleaded guilty to fraud or obstruction of justice charges,<ref name="fortune-2006"/> and several received prison terms.<ref>{{Cite news |date=January 17, 2007 |title=2 Years in Prison for Ex-Software Executive |work=] |url=https://www.nytimes.com/2007/01/17/business/17compute.html |url-access=subscription }}</ref> Most notably, in 2006 former CEO and chairman Kumar was sentenced to 12 years in prison and fined $8 million for his role in the massive accounting fraud at Computer Associates.<ref>{{Cite web |date=November 3, 2006 |title=Former IT boss jailed for 12 years over '35-day month' scam |url=https://www.independent.co.uk/news/business/news/former-it-boss-jailed-for-12-years-over-35-day-month-scam-422777.html |website=independent.co.uk}}</ref><ref>{{Cite news |date=November 6, 2006 |title=Kumar Gets Hard Time |page=15 |work=]}}</ref><ref>{{Cite news |last=De |first=Michael J. |date=November 3, 2006 |title=Ex-Leader of Computer Associates Gets 12-Year Sentence and Fine, ''New York Times,'' November 3, 2006 |work=The New York Times |url=https://www.nytimes.com/2006/11/03/technology/03computer.html?_r=1&pagewanted=print&oref=slogin |access-date=November 13, 2011}}</ref> The company subsequently made sweeping changes through virtually all of its senior leadership positions.<ref name="CA-Technologies-Jun-2006-8-K">{{Cite web |title=CA Technologies, Form 8-K, Current Report, Filing Date Jun 29, 2006 |url=http://edgar.secdatabase.com/1499/95012306008387/filing-main.htm |access-date=Mar 19, 2013 |publisher=secdatabase.com}}</ref> Overall the company spent over $500 million on investigations and fines.<ref name="nyt-broadcom-ca">{{cite news | url=https://www.nytimes.com/2018/07/11/business/broadcom-ca-technologies.html?searchResultPosition=1 | title=Broadcom Reaches Nearly $19 Billion Deal to Buy CA Technologies | author-first=Steve | author-last= Lohr | author2-first=Michael J. | author2-last=de la Merced | newspaper=The New York Times | date=July 11, 2018}}</ref> | |||
===2000s=== | ===2000s=== | ||
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===Acquisition by Broadcom=== | ===Acquisition by Broadcom=== | ||
] | ] | ||
On July 11, 2018, ] announced it would acquire the company for $18.9 billion in cash.<ref>{{Cite press release |title=Broadcom to Acquire CA Technologies for $18.9 Billion in Cash |date=11 July 2018 |publisher=] |url=https://www.prnewswire.com/news-releases/broadcom-to-acquire-ca-technologies-for-18-9-billion-in-cash-300679787.html}}</ref> |
On July 11, 2018, ] announced it would acquire the company for $18.9 billion in cash.<ref>{{Cite press release |title=Broadcom to Acquire CA Technologies for $18.9 Billion in Cash |date=11 July 2018 |publisher=] |url=https://www.prnewswire.com/news-releases/broadcom-to-acquire-ca-technologies-for-18-9-billion-in-cash-300679787.html}}</ref> | ||
⚫ | CA's head, Mike Gregoire, said, "This combination aligns our expertise in software with Broadcom's leadership in the semiconductor industry."<ref name="nyt-ca"/> The acquisition puzzled some industry observers, since the two companies' business seemed to have little in common.<ref name="nyt-ca"/><ref name="register-weirdest"/> One analyst acknowledged that Broadcom could generate cash from the CA operations, but commented: "Financially, it can make sense. But what's the strategic logic?"<ref name="nyt-ca">{{cite news | url=https://www.nytimes.com/2018/07/11/business/broadcom-ca-technologies.html?searchResultPosition=1 | title=Broadcom Reaches Nearly $19 Billion Deal to Buy CA Technologies | author-first=Steve | author-last= Lohr | author2-first=Michael J. | author2-last=de la Merced | newspaper=The New York Times | date=July 11, 2018}}</ref> '']'' was more direct, terming it the "Weirdest. Acquisition. Ever."<ref name="register-weirdest"/> The acquisition was completed on November 5, 2018.<ref name="Broadcom_acquisition_closing">{{Cite press release |title=Broadcom Inc. Completes Acquisition of CA Technologies |date=November 5, 2018 |publisher=] |url=https://www.prnewswire.com/news-releases/broadcom-inc-completes-acquisition-of-ca-technologies-300743810.html}}</ref> | ||
⚫ | CA's head, Mike Gregoire, said, "This combination aligns our expertise in software with Broadcom's leadership in the semiconductor industry."<ref name="nyt-ca"/> The acquisition puzzled some industry observers, since the two companies' business seemed to have little in common.<ref name="nyt-ca"/><ref name="register-weirdest"/> One analyst acknowledged that Broadcom could generate cash from the CA operations, but commented: "Financially, it can make sense. But what's the strategic logic?"<ref name="nyt-ca">{{cite news | url=https://www.nytimes.com/2018/07/11/business/broadcom-ca-technologies.html?searchResultPosition=1 | title=Broadcom Reaches Nearly $19 Billion Deal to Buy CA Technologies | author-first=Steve | author-last= Lohr | author2-first=Michael J. | author2-last=de la Merced | newspaper=The New York Times | date=July 11, 2018}}</ref> '']'' was more direct, terming it the "Weirdest. Acquisition. Ever."<ref name="register-weirdest"/> | ||
The irony of the reversal of positions did not go unnoticed, with ''The Register'' saying "CA Technologies, long a byword for making acquisitions, has been acquired by Broadcom."<ref name="register-weirdest"/> Broadcom, |
The irony of the reversal of positions did not go unnoticed, with ''The Register'' saying "CA Technologies, long a byword for making acquisitions, has been acquired by Broadcom."<ref name="register-weirdest"/> And Broadcom, like CA, had a reputation for making large reductions in the companies it had just acquired.<ref name="crn-broadcom-layoffs"/><ref>{{cite news | url=https://www.bizjournals.com/sanjose/news/2018/11/19/broadcom-ca-technologies-layoffs-avgo.html | title=Broadcom to lay off local employees following $18B purchase of CA Technologies | author-first=Jennifer | author-last=Elias | work=Silicon Valley Business Journal | date=November 19, 2018}}</ref> Immediately after the acquisition closed, Broadcom laid off former CA Technologies workers in Silicon Valley<ref name="A">{{Cite web |last=Elias |first=Jennifer |date=November 19, 2018 |title=Broadcom to lay off local employees following $18B purchase of CA Technologies |url=https://www.bizjournals.com/sanjose/news/2018/11/19/broadcom-ca-technologies-layoffs-avgo.html |access-date=November 29, 2018 |publisher=]}}</ref> and Plano, Texas. It also laid off 262 former CA Technologies employees in Islandia and some in Manhattan.<ref name="B">{{Cite web |first=Ken |last=Schachter |date=November 16, 2018 |title=Broadcom to lay off 262 former CA Technologies workers in Islandia: Filing |url=https://www.newsday.com/business/technology/broadcom-to-lay-off-262-former-ca-technologies-workers-in-islandia-filing-1.23455235 |access-date=November 29, 2018 |publisher=]}}</ref> Then, Long Island-based '']'' reported that about 40 percent of all CA employees in the United States would be laid off, adding up to almost 2,000 people being let go.<ref name="crn-broadcom-layoffs">{{cite news | url=https://www.crn.com/news/channel-programs/broadcom-preps-for-massive-ca-technologies-layoffs-report | title=Broadcom Preps For Massive CA Technologies Layoffs: Report | author-first=Joseph F. | author-last=Kovar | publisher=CRN News | date=November 9, 2018}}</ref> <!-- curprev 20:41, April 28, 2021 Culveyhouse talk contribs 70,860 bytes +23 Updating the company's main entry to reflect the changes since the Broadcom acquisition. The remnants of CA Technologies is now headquartered in San Jose (no longer in NYC). Most offices have closed and most staff had been laid off, hence my small updates in the paragraph about offices/employee total. undothank --> Not long after the Broadcom acquisition, the large Computer Associates campus on Islandia was abandoned.<ref name="rew-2021">{{cite news | url=https://rew-online.com/jv-to-reactivate-76-acre-former-ca-campus/ | title=JV to reactivate 76-acre former CA campus | work=Real Estate Weekly | date=November 24, 2021}}</ref> | ||
== Corporate responsibility and recognition == | == Corporate responsibility and recognition == |
Revision as of 17:33, 30 April 2023
U.S. software company (1976–2018), also known as Computer Associates
Headquarters in Islandia, New York (2009) | |
Formerly |
|
---|---|
Company type | Public |
Industry | Software |
Founded | 1976; 48 years ago (1976) in New York City, New York, United States |
Founders | |
Defunct | 2018; 6 years ago (2018) |
Fate | Acquired by Broadcom Inc. |
Headquarters | Islandia, New York, United States |
Products | Enterprise software |
Website | www |
CA Technologies, Inc., formerly Computer Associates International, Inc., and CA, Inc., was an American multinational enterprise software developer and publisher that existed from 1976 to 2018. CA grew to rank as one of the largest independent software corporations in the world, and at one point was the second largest. The company created systems software (and for a while applications software) that ran in IBM mainframe, distributed computing, virtual machine, and cloud computing environments.
The company reflected the personality of its primary founder, Charles Wang. The main key to Computer Associates' fast growth was the acquisition of many lesser-sized software companies in the IBM mainframe industry segment. CA was known for large-scale dismissals of employees in the acquired firms, and for sometimes extracting cash flow from acquired products rather than enhancing them. Customers of CA often criticized the company for its poor technical support and somewhat hostile attitude. CA underwent a major accounting scandal in the early 2000s that led to several past executives being sent to prison. However by the 2010s, CA was ranked high by several corporate responsibility and recognition metrics.
CA was headquartered on Long Island for most of its history, at first Jericho and Garden City in Nassau County, then Suffolk County for two decades in Islandia before moving to Manhattan in 2014. In 2018, the company was acquired by Broadcom Inc., a semiconductor manufacturer, for nearly $19 billion.
History
1970s
The company was established by Charles Wang and Russell Artzt in 1976. The company began with three employees, and was located in Manhattan in New York City, at 655 Madison Avenue. Officially the company was known as Trans-American Computer Associates, Inc.
Under regulatory pressure in 1969, IBM had announced its decision to unbundle the sale of computer hardware from its software and support services;i.e., mainframe computers from computer programs, etc. The decision opened new markets to competition and provided an opportunity for entrepreneurs to enter the nascent software industry — an opportunity Wang exploited by developing and selling several software products for the IBM mainframe market.
In 1976, Wong obtained exclusive North American distribution rights for CA-Sort, a sort/merge/copy and data management utility software program.
In other words, Wang and Artzt established a partnership with Sam Goodner and Max Sevcik of Swiss company Computer Associates, which they named Computer Associates International, and went to market with CA-Sort, along with their original products. Wang bought out the Swiss parent company in 1980.
In 1979, offices were moved to Long Island at Jericho, New York, at 125 Jericho Turnpike.
1980s
Old logo of Computer AssociatesComputer Associates had an IPO in 1981 that garnered the company a modest $3.2 million. Its stock traded on the NASDAQ using the stock symbol "CASI".
The first significant acquisition in CA's history took place in 1982, when it merged with Capex Corporation, resulting in a 50 percent increase in CA's revenues. Both CA and Capex made software products for the IBM mainframe, but while by CA's own marketing statements CA had visibility and success in software products for IBM's DOS mainframe operating system, potential customers did not think CA was strong in products for the IBM OS mainframe operating system. In contrast, this was an area where Capex had established itself.
The acquisition of Capex was generally viewed as having been successful. It was the start of what was to become a buying spree for Computer Associates over the next several years. The company specialized in going after third-party mainframe software.
By 1986, Computer Associates had moved its headquarters again, to Garden City. They would come to be situated in five other buildings within Nassau County as well.
CA's strategy for growth reached a new level with its deal for Uccel in 1987, which valued at $800 million was an order of magnitude larger than any of its previous acquisitions. Of Uccel's existing staff of 1,200 people, 550 were let go; this kind of harsh post-acquisition reduction measure was typical for the company and became a part of CA's public image.
In 1987, CA's stock began trading on the New York Stock Exchange using the ticker symbol "CA". In 1988, the company purchased the principal software product of Consco.
As the decade ended, CA became the first software company after Microsoft to exceed $1 billion in sales. Information Week listed Computer Associates ahead of Microsoft in a 1990 roundup titled "Software's Heavy Hitters."
1990s
Early in the decade, CA was forced to address criticism of the company as well as a sharp decline in its stock price, which fell more than 50% during 1990. The ensuing changes included pushing into foreign markets (Japan, Canada, Africa, Latin America), reforming how the company charged its customers for software maintenance, and improving compatibility with products from other vendors, such as Hewlett-Packard (HP), Apple Computer, and Digital Equipment Corporation (DEC). In addition, the company was not immune to the effects of the early 1990s recession, and by October 1991 the stock was down by around 70 percent from its earlier peak in May 1989. At this point, CA had some 7,000 employees, and around $1.4 billion in sales,
After 2½ years of planning and construction, the company began moving its headquarters to Islandia, New York in Suffolk County in 1992, consolidating all of the Nassau County operations. There it would occupy a large corporate campus with three office buildings. By this juncture, CA was Long Island's second largest private employer, after Grumman Aerospace, and Suffolk County politicians had given CA substantial tax abatements and assistance with construction financing to lure the company there.
In 1994, CA acquired the ASK Group and continued to offer the Ingres database management system under a variety of brand names.
In 1992, the company was sued by Electronic Data Systems (EDS), a CA customer. EDS accused CA of breach of contract, misuse of copyright and violations of antitrust laws. CA filed a counterclaim, also alleging breach of contract, including copyright infringement and misappropriation of trade secrets. The companies reached a settlement in 1996.
In 1995, Legent Corporation was acquired for $1.78 billion, the biggest-ever acquisition in the software industry at that time, and Cheyenne Software for $1.2 billion in 1996. CA executed the software industry's then-largest acquisition ($3.5 billion) via Platinum Technology International in 1999.
In 1998, an unsuccessful and hostile takeover bid by CA for computer consulting firm Computer Sciences Corporation (CSC) prompted a bribery suit by CSC's chairman Van Honeycutt against CA's founder and then CEO, Charles Wang.
By the end of the 1990s, Computer Associates was the dominant company among providers of utility software tools for the mainframe. Personal computer software firms such as Microsoft, Lotus Software, and WordPerfect Corporation were much more recognizable as names to the general public. but while this mainframe industry segment was not widely known, it was a renumeratively rewarding one. A profile in Business Week in 1996 was headlined "Computer Associates: Sexy? No. Profitable? You Bet ", and that accurately conveyed the company's place in the industry.
In May 1998 stock grants were issued to Wang and two others together worth $1.1 billion at the time. In 1999, Wang received the largest bonus in history at that time from a public company. The receipt of a $670 million stock grant that dated to the vesting of a 1995 stock option occurred while the company faced a slowdown in European markets and an economic slump in Asia, both of which had affected CA's earnings and stock price. In total, the company took a $675 million after-tax charge for $1.1 billion in payouts to Wang and other top CA executives.
Company culture
Computer Associates generally received poor marks for customer relations, with a reputation of being more interested in making sales than providing support afterward. Indeed, to some extent the CA sales force regarded customers as foes. In 2001, The New York Times wrote that "Computer Associates has infuriated clients with high prices and poor technical support." Fortune wrote, "For all its ubiquity inside the tech departments of corporate America, CA had a horrendous reputation. Where Microsoft has long been the most feared software company, the old CA claimed the title of most despised – not by competitors but by its own customers."
Detractors of CA accused it of often putting newly acquired software products into maintenance mode and milking them for cash flow. The products themselves were expensive and central to what corporate IT departments were doing, and so customers found it difficult to move away from CA. As Fortune wrote, "These products made it the barnacle of corporate America: Once you had CA software onboard, it was so onerous and expensive to pull it out that few customers ever did. That led to a lot of steady cash flow – and to arrogance on the part of CA's management." Or as The Register wrote, "CA used acquisitions to grow its portfolio.... Along the way it acquired a reputation as the place decent software goes to die." Nonetheless, as the Times noted in 2001: "To be sure, complaints about Computer Associates' prices and customer support have been around almost as long as the company, and it has always outlasted its detractors."
For good or for bad, the culture of Computer Associates very much reflected Wang's background, that of an immigrant educated at the non-elite Queens College, City University of New York, and personality. Wang did not admire or belong to the Silicon Valley mindset and either insulted or avoided its ecosystem of industry analysts and venture capitalists. The company's sales force was composed largely of blue-collar types from New York's outer boroughs and Long Island. With them, CA had a reputation for being "smart, aggressive, and consistently profitable".
Internally, as the Times wrote, "Over the years, has gained a reputation as a callous employer that dismisses workers without warning while top executives take home eight- and sometimes nine-figure pay packages." In particular, Computer Associates had a reputation for mass dismissals within companies it had taken over. This was the case with Applied Data Research, for instance, as some 200 employees from its Montgomery Township, New Jersey facility were let go on a single morning in 1988. As Sam Wyly, the head of Sterling Software, reflected upon his decision in 2000 to sell that company to Computer Associates: "It wasn't easy for us because of our concern about the CA culture. It wasn't the ideal end place for our products and people. We agonized over that, but our overriding duty was to the shareholders, so we went ahead with the deal."
A somewhat contrarian view of Computer Associates was given by computer industry historian Martin Campbell-Kelly, writing around 2001, who gave the company credit for continuing to enhance the DATACOM/DB and IDMS database products it had acquired and for doing the work to have its databases and utility products be able to interoperate. Campbell also saw the act of staffing reductions as "rationalization" of existing businesses that in some cases were not performing well.
Accounting scandal
By 2000, CA had acquired about 200 companies. In that year, Sanjay Kumar replaced Wang as chief executive officer. Then in 2002, Kumar became chairman of Computer Associates' board of directors.
Meanwhile, the U.S. Department of Justice limited CA's acquisitions. The company refinanced large amounts of debt, and a proxy battle ensued between the board and shareholders. There were also questions regarding executive compensation, accounting methods, and insider-trading by Kumar. In 2000, a shareholder-based class-action lawsuit accused CA of misstating more than $500 million in revenue in its 1998 and 1999 fiscal years in order to artificially inflate its stock price.
An investigation by the Securities and Exchange Commission (SEC) followed, resulting in charges against the company and some of its former top executives. The SEC alleged that from 1998 to 2000, CA routinely kept its books open to include quarterly revenue from contracts executed after the quarter ended in order to meet Wall Street analysts' expectations. In 2004, the company avoided indictment for involvement in the 35 day month accounting scandal by reaching a settlement with the SEC and Department of Justice, in which CA agreed to pay $225 million in restitution to shareholders and reform its corporate governance and financial accounting controls.
Eight CA executives pleaded guilty to fraud or obstruction of justice charges, and several received prison terms. Most notably, in 2006 former CEO and chairman Kumar was sentenced to 12 years in prison and fined $8 million for his role in the massive accounting fraud at Computer Associates. The company subsequently made sweeping changes through virtually all of its senior leadership positions. Overall the company spent over $500 million on investigations and fines.
2000s
By 2001, CA was the fourth-biggest among independent software companies and had 18,000 employees. Attempts to diversify away from the mainframe business had not met with much success.
CA started the India Technology Centre in Hyderabad on December 10, 2003. In 2004, CA appointed ex-IBM employee John Swainson as CEO. Swainson tried to turn things around, but was hampered by trouble that the company had in fixing its internal finance and accounting systems.
During this time, the company presented its Enterprise IT Management (EITM) vision to unify and simplify enterprise-wide IT By 2006, the company had 15,000 employees.
The company's original name of Computer Associates International, Inc. was changed to CA, Inc. in January 2006. CA said that the change reflected a changed focus towards helping customers "simplify the management of enterprise-wide IT"; it also came shortly before Kumar pleaded guilty to the array of charges against him.
On September 1, 2009, CA announced CEO John Swainson's decision to retire by the end of the year. On January 28, 2010, CA Technologies announced that William E. McCracken would be its chairman of the board and chief executive officer.
2010s
In May 2010, at the opening of the CA World 2010 conference in Las Vegas, the company announced it was changing its name again, to CA Technologies. For a reason, CA said the new name "reflects the full breadth and depth of what the company offers."
In 2010, the company acquired eight companies to support its cloud computing strategy: 3Tera, Nimsoft, NetQoS, Oblicore, Cassatt, 4Base Technology, Arcot Systems, and Hyperformix. In 2011, CA acquired ITKO for $330 million. Two years later, it acquired app deployment and management company Nolio for approximately $40 million, as well as Layer7.
The company had been a provider of anti-virus and Internet security commercial software programs for personal computers during its venture into the business-to-consumer market. In 2011, CA sold its antivirus properties to Updata Partners, which spun the division off as Total Defense. After the spinoff, CA became primarily known again for its business-to-business mainframe and distributed (client/server, etc.) information technology infrastructure applications.
On January 7, 2013, CA Technologies announced that Michael P. Gregoire would be a member of the board and new chief executive officer. In June 2014, CA Technologies moved its headquarters, without an announcement, from Islandia in Suffolk County, to 520 Madison Avenue in New York City.
In 2015, the company made four acquisitions, including Rally software for $480 million, Unifyalm, Gridtools, Idmlogic, and Xceedium.
In 2016, CA acquired Blazemeter, Automic, Veracode, and Runscope in 2017.
CA Technologies posted $4.2 billion in revenue for fiscal year 2018 (ending March 31, 2018). Mainframe products and services was still the major of CA's income, comprising about $2.2 billion in the fiscal year, while its so-called enterprise solutions market segment contributed some $1.75 billion and its services business around $0.3 billion. As of 2018, CA Technologies maintained offices in more than 40 countries and employed approximately 11,300 people.
On August 8, 2018, CEO Mike Gregoire was elected as chairman of CA Technologies board of directors, replacing retiring chairman Art Weinbach.
Acquisition by Broadcom
On July 11, 2018, Broadcom Inc. announced it would acquire the company for $18.9 billion in cash. CA's head, Mike Gregoire, said, "This combination aligns our expertise in software with Broadcom's leadership in the semiconductor industry." The acquisition puzzled some industry observers, since the two companies' business seemed to have little in common. One analyst acknowledged that Broadcom could generate cash from the CA operations, but commented: "Financially, it can make sense. But what's the strategic logic?" The Register was more direct, terming it the "Weirdest. Acquisition. Ever." The acquisition was completed on November 5, 2018.
The irony of the reversal of positions did not go unnoticed, with The Register saying "CA Technologies, long a byword for making acquisitions, has been acquired by Broadcom." And Broadcom, like CA, had a reputation for making large reductions in the companies it had just acquired. Immediately after the acquisition closed, Broadcom laid off former CA Technologies workers in Silicon Valley and Plano, Texas. It also laid off 262 former CA Technologies employees in Islandia and some in Manhattan. Then, Long Island-based Newsday reported that about 40 percent of all CA employees in the United States would be laid off, adding up to almost 2,000 people being let go. Not long after the Broadcom acquisition, the large Computer Associates campus on Islandia was abandoned.
Corporate responsibility and recognition
During the mid-1990s, Computer Associates realized it had an image problem, both externally and internally, and consequently created a public relations department within the company and also adopted some more employee-friendly human resources policies.
Sustainability
In 2010, CA was listed among the greenest companies by Newsweek's Green rankings. CA has been named a component of the Dow Jones Sustainability Indexes (DJSI) for seven years, from 2012 to 2018. In 2015 and 2016, CA was ranked as one of America's Greenest companies by Newsweek.
In 2017, the company scored an A− from CDP, the world's most comprehensive rating of companies leading on environmental action, for environmental performance and disclosure.
According to a corporate sustainability report released by the company in 2018, CA reduced its Greenhouse Gas Footprint by more than 35% since 2006. It received the Climate Leadership Award in Excellence in GHG Management in 2018, and was included in Barron's 100 Most Sustainable Companies in 2018 as well.
In February 2018, CA was named one of the World's Most Ethical Companies by Ethisphere Institute for the third consecutive year.
Equality and diversity
CA Technologies was named one of the best companies for multicultural women by Working Mother Magazine for four consecutive years, from 2015 to 2018 as well as one of the 100 Best Companies from 2015 to 2017. The company was also awarded 4.3 of 5 stars by InHerSight as one of the Top 10 IT Companies for Women in 2017. In 2015 and 2016, Fatherly.com ranked CA as one of the Best Places to Work for New Dads.
In 2018, CA was named a NAFE top company for executive women. CA was also included in the Bloomberg Gender-Equality Index (GEI) in 2018.
In 2018, for the fourth consecutive year, the Human Rights Campaign Foundation ranked CA as one of the Best Places to Work for LGBTQ+ Equality.
CA CEO Mike Gregoire is a signatory of the CEO Action for Diversity and Inclusion pledge.
Work environments
For four consecutive years, 2015–2018, CA was named by Computerworld as one of the Best Places to Work in IT. In 2017, it was named to the Forbes list of America's Best Employers and recognized with a STAR Award for Leadership and Innovation by the Technology Services Industry Association (TSIA).
In 2018, CA was named to the Thomson Reuters World's Top 100 Technology companies and for six consecutive years has been the recipient of the NorthFace ScoreBoard Award from Customer Relationship Management Institute (CRMI).
Acquisitions
Main article: List of mergers and acquisitions by CA TechnologiesCA had a long history of acquisitions in the software industry. It grew its portfolio and became successful through acquiring many companies in disparate fields, including system monitoring and management, ID management, security, and anti-virus, among others.
See also
- AppNeta
- CA IT Process Automation Manager
- Computer Associates International, Inc. v. Altai, Inc.
- Dynatrace
- Inedo
- LA Technology and Softline
- Nastel
- New Relic
- Riverbed Technology
- Splunk
- Sumo Logic
- Tech companies in the New York metropolitan area
- XebiaLabs
Further reading
- 21st Century Management: The Revolutionary Strategies That Have Made Computer Associates a Multibillion-Dollar Software Giant, by Hesh Kestin, (1992, Atlantic Monthly Press)
External links
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- CA Technologies
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