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Computer Associates to buy Platinum Technology

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New York -- Computer Associates International will buy rival Platinum Technology International, Oakbrook Terrace, Ill., for $3.5 billion in cash. Islandia, N.Y.-based Computer Associates will pay $29.95 for each Platinum share, which is about triple Friday's closing price. Computer Associates has been buying companies that set up and run computer systems to offset a drop in demand for business software. Platinum is in the midst of an agency review, although executives at the company did not return phone calls to comment on how that process would be affected, if at all. (From Crain's New York Business.)
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