IT firm CA Technologies today said it will sell arcserve data protection business to investment firm Marlin Equity Partners.
The transaction, whose financial details were not disclosed, is expected to close by July-September quarter of 2015 fiscal. The company follows April-March as fiscal year.
CA Technologies said: "It has entered into a definitive agreement to divest its CA arcserve data protection business (arcserve) to Marlin Equity Partners (Marlin).
Terms of the transaction, which is expected to close in the second quarter of fiscal year 2015 subject to certain approvals, were not disclosed."
All arcserve business activity will now be recognised by the company as discontinued operations, it added.
A backup and recovery software solution, arcserve helps companies ensure the availability of mission-critical systems, applications and data.
Foros acted as financial advisor to CA Technologies on this divestiture, the firm said.
"CA continues to sharpen its focus and actively manage its portfolio, divesting non-core assets and making investments in areas of core capability. This transaction further refines our global partner strategy as we continue to build CA for growth," CA Technologies EVP (Strategy and Corporate Development) Jacob Lamm said.
Marlin Equity Partners is an investment firm with over USD 3 billion of capital under management and focuses on providing tailored solutions that meet their business and liquidity needs.
