CA has sold its Ingres database technology to a private equity firm which will launch it as an independent company.
Financial details were not disclosed but the firm, Garnett & Helfrich Capital, has said the new company will develop and market the open-source software.
CA released Ingres last year as an open-source project, reviving interest in the dormant software, but databases have never been a core part of CA's portfolio. CEO John Swainson cast the Ingres sale as part of CA's larger effort to streamline the vast collection of applications it has amassed through a decade of acquisitions. Ingres came through a 1994 buyout of ASK/Ingres
CA will retain a minority ownership stake in Ingres and have a seat on the board. It will also continue working with Ingres on marketing, development and industry partnerships.
Garnett & Helfrich Capital was formed last year and now has a fund of $350 million with which to invest in mid-size technology spin-off ventures. In April, it spent $35 million for a controlling stake in thin-client device and technology maker Wyse.
Garnett & Helfrich managing director Terry Garnett will serve as interim CEO and chairman of Ingres.