But the current product portfolio "looks pretty good," he said, and so in the shorter term any further deals are likely to be relatively small acquisitions that will "tuck in" to the existing product range rather than taking it in new directions.
"Things can happen that you don't anticipate," Mr McCracken said during a media conference at CA World 2011, declining to rule out the possibility of a significant purchase.
He expects CA's organic growth to at least match the industry's growth rate (ie, somewhere in the mid-single-digit range) in the short term, and notes that its enterprise business is currently growing at around 12-14%.
"You can never discount the economy," he warned, but noted that the recession in some parts of the world is helping to drive cloud adoption, and spending is also moving towards things that allow organisations to make better use of existing investments, which is one of CA's specialties.
According to David Dobson, CA executive vice president and group executive of the company's customer solutions group, US retailer Best Buy's use of LISA reduced the lead time for a new in-store application from 12 months to six. More generally, it can save millions in test environment costs, cut time to market by 30%, and yield a 50 to 80% improvement in quality.
LISA "is a vital part of our strategy," said Mr McCracken. "We've seen great interest and adoption already." The software places CA in "in one the big growth areas in the industry" with a market opportunity in the billions of dollars.
Disclosure: the writer travelled to Las Vegas as the guest of CA Technologies.