NEW YORK—CA Technologies today announced it has completed the acquisition of Rally Software Development Corp., a leading provider of Agile development software and services. The close of this acquisition represents a significant milestone in CA’s strategy, broadening its solution set and capabilities to better serve customers driving digital transformation in their organizations to compete in today’s application economy.

With the completion of the transaction, Tim Miller, Rally’s Chairman and Chief Executive Officer, becomes a General Manager reporting into CA’s Chief Product Officer. The Rally organization and leadership team will continue to report directly to Miller.

Under the terms of the agreement, CA is paying $19.50 per share, which equates to approximately $480 million, net of cash acquired. CA will provide additional financial detail regarding full year Fiscal 2016 guidance when it reports first quarter earnings on July 23, 2015. All shares of Rally are expected to be delisted from the NYSE stock market by the close of business today.