HP to Acquire Colubris Networks to Expand, HP ProCurve’s Wireless Technology Offerings
PALO ALTO, Calif., Aug. 11, 2008
HP today announced that it has signed a definitive agreement to acquire Colubris Networks Inc., a Waltham, Mass.-based, privately-held global provider of intelligent wireless networks for enterprises and service providers.
HP plans to integrate Colubris’ extensive product line into its ProCurve Networking product portfolio. This will expand HP ProCurve’s reach into vertical markets such as hospitality, transportation, healthcare, manufacturing, service provider and education.
The award-winning Colubris Networks Intelligent Mobility Solution delivers wireless integrated access, management and security products as well as 802.11n capability – all of which help enterprises and service providers broaden the reach and impact of voice, data and multimedia applications.
“The acquisition of Colubris Networks will strengthen ProCurve’s hardware, management platform and services, significantly improving the overall performance capabilities of both wired and wireless networks, and will deliver even more best-in-class choices for our customers worldwide,” said Marius Haas, senior vice president and general manager, HP ProCurve. “With our vision and continued support from HP leadership, I am convinced that ProCurve’s impressive growth and market leadership is unlimited.”
The acquisition is subject to certain closing conditions and is expected to close by the end of HP’s fiscal year 2008. Financial terms of the transaction were not disclosed.
About Colubris Networks
Colubris Networks Inc., founded in 2000, provides organizations with advanced wireless networking solutions that unify and integrate with existing network infrastructures, as well as security and management systems.
About HP ProCurve
HP ProCurve is the Network of Choice for best-in-class solutions, products and services for wired and wireless networks. ProCurve’s Adaptive Networks vision enables customers to implement an open, standards-based network infrastructure that adapts to the changing needs of users, applications and organizations.
ProCurve was positioned in the Leaders quadrant in research and advisory firm Gartner, Inc.’s 2008 Magic Quadrant Report for Global Campus LANs and is No. 2 worldwide in Ethernet switch market revenue and ports according to Dell’Oro Group.
More information on HP ProCurve is available at http://www.procurve.com/.
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 $110.4 billion for the four fiscal quarters ended April 30, 2008. 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; the expected timing of the completion of the transaction; 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; risks related to the timing or ultimate completion of the transaction; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the four fiscal quarters ended April 30, 2008.. HP assumes no obligation and does not intend to update these forward-looking statements.
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