HP Closes Opsware Acquisition
Deal adds data center automation to HP Business Technology Optimization software portfolio
PALO ALTO, Calif., Sept. 21, 2007, HP today announced that it has completed its acquisition of Opsware Inc., the leader in data center automation, which is one of the fastest growing segments in IT operations.
The deal combines Opsware’s industry-leading IT automation offerings with HP Software’s business and IT service management capabilities to boost HP’s Business Technology Optimization portfolio of enterprise IT management software.
BTO is a category of software and services that enable chief information officers to enhance the value and optimize business outcomes from their IT investments.
“With Opsware, we have elevated HP’s relevance to CIOs with products and solutions to help them transform and drive the next generation of data centers,” said Thomas E. Hogan, senior vice president, Software, HP. “By reducing operational costs and improving efficiencies through IT automation, CIOs can invest in strategic growth initiatives to drive value and competitive advantage for their companies.”
HP also announced that it has appointed Opsware Chief Executive Officer Ben Horowitz to lead the Business Technology Optimization organization reporting to Hogan.
Upon the closing of the acquisition, all remaining outstanding Opsware shares, other than those held by stockholders who properly perfect appraisal rights under Delaware law, were converted into the right to receive $14.25 per share in cash. As a result of the transaction, Opsware has become a subsidiary of HP.
HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $100.5 billion for the four fiscal quarters ended July 31, 2007. More information about HP (NYSE: HPQ) is available at www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; any statements of the plans, strategies and objectives of management for future operations, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the parties are unable to successfully implement integration strategies; and other risks that are described from time to time in HP’s and Opsware’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2007 and Opsware’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2007. HP assumes no obligation and does not intend to update these forward-looking statements.
© 2007 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.
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