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CA completes $155M acquisition of Layer 7
CA Technologies completed its $155 million cash purchase of Layer 7 Technologies, the Islandia-based company announced Wednesday.
Layer 7 is based in Vancouver, Canada, and develops software called an application programming interface that provides security for transactions on mobile devices such as smartphones.
The addition of Layer 7 will help “protect our customers’ sensitive and proprietary data so they can take advantage of these new forms of online business,” CA general manager of security Mike Denning said in a news release.
CA, which announced the deal in April, disclosed the purchase price in its annual report.
The company’s stock fell slightly after the announcement, dropping 1.5 percent to $27.19 at midmorning. CA has a market capitalization—the value of its outstanding shares—of $12.34 billion.
Tags: CA Technologies