Platinum Technology

Last updated
Platinum Technology, Inc.
Founded1987;37 years ago (1987) in the United States
Founder Andrew Filipowski
Defunct1999;25 years ago (1999)
FateAcquired by Computer Associates

Platinum Technology, Inc., was an American software company founded by Andrew Filipowski in 1987 to market and support deployment of database management software products and the applications enabled by database management technology and to render related services. Over its 12-year history, it was known for its acquisition of other companies, [1] having bought more than 50 companies between 1994 and 1999 and growing to become the eighth largest global software company with revenue of a billion dollars per year. [2] Acquisitions included Altai, Inc. (1995), [3] AutoSystems Corporation, Brownstone Solutions, ICON Computing, Intervista Software, Software Interfaces, Locus Computing Corporation, LBMS (1998), [4] Logic Works (1998), [5] Protosoft, RELTECH Group, Memco Software, Softool, SQL TOOLS, Inc., Trinzic, Viatech and VREAM (1996). [6] The company was a member of the UML Partners consortium.

Contents

Acquisition by Computer Associates

In March 1999, Platinum was itself acquired by Computer Associates (CA) for 3.5 billion U.S. dollars, at that time the largest transaction in the history of the software industry. [7] CA offered $29.25 per share, almost a three-to-one premium over Platinum's stock price of $9.875. [8]

Transition

In 2001, CA was sued by the United States Department of Justice (DOJ), alleging that the two companies prematurely reduced competition between each other. [9] The DOJ claimed that this was achieved by agreeing to limit discounts offered to customers before the deal was completed.

Acquisitions

Protosoft

Protosoft Inc.
Industry Computer software
Founded1990
Defunct1995
Fateacquired by Platinum Technology
Headquarters Flag of the United States.svg Houston, TX United States
Key people
Dr. Anthony Lekkos, Erick Rivas, founders
ProductsEnterprise modeling software
Number of employees
50

In November 1995, Protosoft was acquired by Platinum Technology for 40 million U.S. dollars. [10] [11] Protosoft was founded by Dr. Anthony Lekkos and Erick Rivas in 1990 to develop and market Paradigm Plus, an object-oriented analysis and design (OOAD) modeling product and associated code generation and reverse engineering tools.

Memco Software

Memco Software Ltd.
Industry Computer software
Founded1990
Defunct1998
Fatemerged with Platinum Technology
Headquarters Tel Aviv Israel
Key people
 Israel Mazin (Founder and CEO)
ProductsSoftware security solution
Number of employees
150

In September 1998, Platinum Technology acquired Israeli company Memco Software (Nasdaq: MEMCF). The acquisition was accounted for as a stock-for-stock pooling of interests valued at just more than $400 million. The combined offering of both companies was aimed at providing a complete software security solution for protecting enterprise networks, databases, and systems across multiple platforms. [12]

With this merger; Platinum was hoping to become a major security software provider in areas such as access control, single sign-on, user and database security administration, authentication, intrusion detection, secure communications, and policy audit. [13]

Memco Software was founded in 1990 in Tel Aviv, Israel; in 1996 it had an initial public offering on NASDAQ, raising $50 million. Following the acquisition of Platinum by Computer Associates, Memco Software became the basis for CA’s research and development center in Israel. [14]

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References

  1. ↑ Jean Schauer (September 1998). "Platinum Technology - The Element of Success". DM Review. Archived from the original on 2013-02-20. Retrieved 2008-03-23. ...today we are more representative of the companies that we acquired than we are of the original Platinum
  2. ↑ Richard McCaffery (April 12, 1999). "Software Makers Add Federal Might With New Buys". Washington Technology. Archived from the original on November 25, 2005. Retrieved 2008-03-23.
  3. ↑ "Altai sold for $23M in stock.; Altai Inc.; Mergers/Acquisitions/Alliances". Software Industry Report. 27 (9): 4. May 1, 1995. ISSN   1042-7252.
  4. ↑ Mark A. Ardis; Barbara L. Marcolin (31 March 2001). Diffusing Software Product and Process Innovations. Springer Science & Business Media. p.  169. ISBN   978-0-7923-7331-5.
  5. ↑ Mullins, Craig (2004-04-01). "The Database Report - April 2014". The Data Administration Newsletter. Retrieved 2014-12-05. The product was originally developed by LogicWorks, which was acquired by Platinum technology, inc. in 1998.
  6. ↑ "PLATINUM TECHNOLOGY, INC. FORM S-1" Archived 2014-12-10 at the Wayback Machine , November 12, 1997. Retrieved 2014-11-30.
  7. ↑ "CA To Buy Platinum For $3.5 Billion". CRN. Archived from the original on 2007-09-27. Retrieved 2007-08-29.
  8. ↑ "Computer Associates to Purchase a Rival". New York Times . March 30, 1999. Retrieved 2008-05-18.
  9. ↑ Jennifer Hagendorf Follett (October 5, 2001). "CA, Platinum Technology Named In Antitrust Suit". CRN. CMP Media. Archived from the original on January 20, 2013. Retrieved 2008-03-23.
  10. ↑ "PLATINUM technology acquires ProtoSoft, Inc.; introduces object-oriented analysis and design software Paradigm Plus, industry's technology leader, added to company's expanding application development offering". Businesswire.
  11. ↑ "Mongoose in hunt for growth after promise of new funds". Houston Business Journal.
  12. ↑ "Platinum to buy Memco Software". CNET News, August 13, 1998.{{cite journal}}: Cite journal requires |journal= (help)
  13. ↑ "MEMCO Software Ltd. Announces Completion of Its Merger With PLATINUM Technology International, inc". Business Wire, March 29, 1999.{{cite journal}}: Cite journal requires |journal= (help)
  14. ↑ "American Giant "Computer Associates" Takes Over Israeli Memco Software". Israel Business Today, June 1, 1999. Archived from the original on 2012-11-02.{{cite journal}}: Cite journal requires |journal= (help)
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