CA Inc. has closed on a deal to buy privately held Nimsoft Inc. for $350 million in cash, the company said in a Wednesday news release.
The deal will help the Islandia-based software company sell its products in the "emerging enterprises" market - a customer pool of businesses with revenues in the $300 million to $2 billion range, CA said.
CA also said this week that one of its executive vice presidents, Jacob Lamm, has joined the board of directors of the New York State Smart Grid Consortium.
Founded in 2008, the consortium is a not-for-profit, public-private partnership founded "to promote broad statewide implementation of a safe, secure and reliable smart electric power grid," CA said.
Lamm, in a news release, said, "Our nation's electrical power infrastructure is running up against its limitations, and CA is committed to help address this problem."
CA is reducing its energy consumption, and is helping its customers do the same, Lamm said. "...We're now sharing the lessons we've learned through our participation in the smart grid consortium."
CA's purchase of Nimsoft, based in California, is its fifth acquisition in the past year. Nimsoft will operate as a stand-alone business unit within CA's cloud products and solutions business line.
Cloud computing refers to flexible, cost-saving subscription plans allowing clients to use -- and pay for -- variable amounts of data storage, software and other resources on the Internet, as needed.