Computer Associates' Jasmine goes Platinum

In what is reputed to be the largest software deal in history, technology giant Computer Associates has purchased Platinum Technology for approximately $3.5 billion.

Platinum brings a passel of technology expertise in knowledge management, data warehousing and database tools. Platinum has 120 offices worldwide, and had revenue of nearly $1 billion in 1998.

CA and Platinum complement each other in products, markets and services with very little overlap, according to CA president and COO Sanjay Kumar. Platinum's capabilities mix well with the E-commerce and development technologies in CA's Jasmine object-oriented database. Platinum's consulting and implementation services will also benefit CA's Global Professional Services (GPS), particularly in Europe.

Following the announcement, Platinum stock value quickly tripled to nearly $30 per share, roughly equivalent to CA's offer. The deal has already been approved by both company's directors