Platinum Technology
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| Platinum Technology Inc. | |
|---|---|
| Fate | acquired by CA |
| Founded | 1987 |
| Defunct | 1999 |
| Location |  Oakbrook Terrace, IL USA |
| Industry | Enterprise software IT services |
| Products | Software |
| Key people | Andrew Filipowski founder |
| Peak size | 5,000 employees |
Platinum Technology Inc. was founded by Andrew Filipowski in 1987 to market and support deployment of database management software products and the applications enabled by database management technology and render related services. Over its 12 year history, it was known for its acquisition of other companies,[1] having bought more than 50 companies between 1994 and 1999 and growing to become the eighth largest global software company with revenue of a billion dollars per year.[2] Acquisitions included ICON Computing, Locus Computing Corporation and Protosoft. The company was a member of the UML Partners consortium.
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[edit] Acquisition by Computer Associates
In May 1999, Platinum was itself acquired by Computer Associates (CA) for 3.5 billion U.S. dollars, at that time the largest transaction in the history of the software industry.[3] CA offered $29.25 per share, almost a three-to-one premium over Platinum's stock price of $9.875.[4]
[edit] Transition
In 2001, CA was sued by the United States Department of Justice (DOJ), alleging that the two companies prematurely reduced competition between each other.[5] The DOJ claimed that this was achieved by agreeing to limit discounts offered to customers before the deal was completed.
[edit] References
- ^ Jean Schauer. "Platinum Technology - The Element of Success", DM Review, September 1998. Retrieved on 2008-03-23. "...today we are more representative of the companies that we acquired than we are of the original Platinum"
- ^ Richard McCaffery. "Software Makers Add Federal Might With New Buys", Washington Technology, April 12, 1999. Retrieved on 2008-03-23.
- ^ "CA To Buy Platinum For $3.5 Billion", CRN. Retrieved on 2007-08-29.
- ^ "Computer Associates to Purchase a Rival", New York Times, March 30, 1999. Retrieved on 2008-05-18.
- ^ Jennifer Hagendorf Follett. "CA, Platinum Technology Named In Antitrust Suit", CRN, CMP Media, October 05, 2001. Retrieved on 2008-03-23.
