CA Technologies acquiring Boulder-based Rally Software for $480M

BOULDER – New York-based software firm CA Technologies (Nasdaq: CA) announced Wednesday afternoon that it has inked a deal to acquire Boulder-based Rally Software Development Corp. for $480 million.

The price works to about $19.50 per share for Rally (NYSE: RALY), a 44 percent premium on Wednesday’s closing price. Shares closed at $13.51 Wednesday but shot up to $19.22 per share in after-hours trading in the wake of CA’s announcement. CA shares remained flat.

Both companies’ boards of directors have approved the deal, which is expected to close…