HP to Acquire OuterBay, Expands Ability to Manage Database Environments
PALO ALTO, Calif., Feb. 7, 2006, HP has signed a definitive agreement to acquire OuterBay™, a leading provider of archiving software for enterprise applications and databases.
Together with HP’s recent purchases of AppIQ and Peregrine Systems, today’s acquisition is part of HP’s overall strategy to bolster its server, storage and software offerings and enable customers to quickly adapt to changing business needs and exploding information growth.
With OuterBay’s technology, HP can help organizations to more effectively manage database growth and improve database performance by up to 80 percent - a critical capability in today’s business environment where database information is in constant use.
The technology additionally will enable HP to expand its solutions for customers deploying Oracle, SQLServer, and Sybase databases as well as major enterprise applications such as Oracle E-Business Suite, SAP and PeopleSoft.
“OuterBay builds on HP’s enterprise portfolio to help companies get more from their mission-critical database environments,” said Bob Schultz, senior vice president and general manager, StorageWorks division, HP. “Sixty percent of our HP Integrity server customers are running Oracle applications and databases today, making this a key capability for our existing customers.”
The transaction also creates opportunity for HP’s enterprise business in the database archiving market, which is currently growing at a 50 percent compound annual growth rate.(1) It also complements the company’s data protection, email archiving and file movement technologies.
OuterBay’s technology adds to HP’s growing portfolio of information lifecycle management (ILM) solutions. Customers will be able to more easily manage the retention of information in their databases in the same manner that they strategically manage the retention of their email.
“HP and OuterBay share a common vision for delivering comprehensive database and ILM solutions,” said Michael Howard, chairman and chief executive officer, OuterBay. “As part of HP’s family of solutions, OuterBay will help customers address the dual challenge of data retention and growth with a complete systems approach.”
Headquartered in Cupertino, Calif., OuterBay has approximately 60 employees, approximately 100 customers, and offices in the United States, the United Kingdom and India.
Financial terms of the transaction were not disclosed. The transaction is subject to certain closing conditions and is expected to be completed within the next two weeks. Following completion, OuterBay will be substantially integrated into the StorageWorks division of HP’s Technology Solutions Group.
OuterBay, a leader in information lifecycle management solutions for applications and databases, helps customers monitor, forecast and manage data growth in enterprise application environments. OuterBay’s ADM Suite allows users to move data between storage tiers based on its current value to the business, and maintain open access to archived data across applications, platforms and storage media. As a result, OuterBay improves enterprise application and database performance and reduces total cost of ownership. OuterBay is headquartered in Cupertino, California, with offices in the United States, the United Kingdom and India.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2005, HP revenue totaled $86.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
(1) HP analysis of third-party data.
This news release contains forward-looking statements that involve risks and uncertainties, as well as assumptions. If the risks or uncertainties ever materialize or if the assumptions prove incorrect, the results of HP and its consolidated subsidiaries may 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 expected benefits of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; 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 from time to time in HP’s Securities and Exchange Commission reports, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2005, and subsequently filed reports. HP assumes no obligation and does not intend to update these forward-looking statements.
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