A Software Giant Goes Hunting

After two years of inactivity, software giant Computer Associates International is firmly back on the takeover trail. CA said on Sept. 3 that it would pay about $ 285 million for developer Pansophic Systems. That deal came just two weeks after CA agreed to ante up $ 125 million for On-Line Software International. CA built itself into the industry's No. 2 company, behind Microsoft, through acquisitions. But a 1989 buyout of Cullinet Software caused the company to stumble--and put its dealmaking on hold.

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