CA Technologies has entered into a definitive agreement to sell its ARCserve data protection business to Marlin Equity Partners.
The 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, according to a company statement.
As a result, CA Technologies updated its fiscal year 2015 guidance and provided select financial information.
A more detailed disclosure of the financial effects of the transaction will be disclosed during CA Technologies' first quarter earnings announcement on July 23, 2014.
CA Technologies executive vice-president, strategy and corporate development, Jacob Lamm, said he was pleased with the transaction and was looking forward to a seamless transition for customers' partners and employees.
“We are very pleased with this transaction, and look forward to a seamless transition for our customers, partners and ARCserve employees,” he 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 also further refines our global partner strategy as we continue to build CA for growth.”
ARCserve helps companies ensure the availability of mission-critical systems, applications and data.
Marlin vice president, Michael Anderson, said the company was committed to providing the strategic and operational support necessary to create long-term value for ARCserve and look forward to working closely with CA Technologies through the transition.
Foros acted as financial advisor to CA Technologies on this divestiture.