Hewlett-Packard to acquire Peregrine Systems

Hewlett-Packard to acquire Peregrine Systems

United States based tech giant Hewlett-Packard has announced plans to acquire Peregrine Systems Inc. in a deal, which would be worth around $425 million in cash. The deal would help the company enhance its portfolio of computer systems management software. The company also announced another deal in which they are going to acquire privately held AppIQ, a maker of storage area network management software.

AppIQ specializes in helping large business customers manage computer servers and storage. However, no financial details have been disclosed for this deal. HP’s acquisition of Peregrine is expected to close in the first calendar quarter of 2006 and it would require approval of the Peregrine shareholders and other customary closing conditions.

The deal means that Hewlett-Packard is paying $26.08 per share for the company. And once the deal is complete and approved by the require authorities, HP would be integrating Peregrine and its leading IT asset and service management software portfolio into their OpenView software business unit.