CA TechnologiesÂ (Nasdaq: CA) has agreed to buyÂ Rally Software Development (NYSE: RALY) by the second quarter of CA’s 2016 fiscal yearÂ for $480 million in a deal that received unanimous approval from both companies’ respective boards of directors.
CA said WednesdayÂ the acquisition is part of its efforts to deliver accelerated software application development tools to businesses.
“Software applications are changing the world, disrupting established business models and bringing in completely new experiences in areas from travel to banking, ” said CA Technologies CEO Mike Gregoire.
“In order to compete, businesses need to develop high-quality software quickly and reliably.”
He added CA seeks to integrate its DevOps and Management Cloud practices with Rally’s Agile software development tools.