CA's new M&A strategy revealed

Steve Hamm

When Jeff Clarke left software maker CA last week to run Cendant’s travel businesses, the person who replaced him as chief operating officer brought with him a long resume of M&A activity. Michael J. Christenson was an investment banker for 23 years before he joined CA as vice-president of strategy and business development last year. Among other things, while at Citigroup Global Markets, he was a banker in Hewlett-Packard’s takeover of Compaq and AOL’s merger with Time-Warner. Since arriving at CA, he handled 12 acquisitions valued at a total of $1.7 billion. But Christenson says CA’s buying binge won’t last. “The days of the easy M&A are over. Now it’s much more challenging and complicated,” he says.

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