On Tuesday, computer giant Hewlett-Packard (HP) said that it plans to acquire software maker OuterBay Technologies, CNET News.com reports.

The move is meant to boost HP’s storage offering.

Cupertino, Calif.-based OuterBay is a developer of archiving software for corporate applications and databases.

The acquisition is HP’s latest step towards increased market presence in the server, software and storage space, coming on the heels of its AppIQ and Peregrine Systems deals, both announced last September, CNET reports.

The company will employ OuterBay’s technology to reach out to customers who are currently using Oracle, SQLServer and Sybase databases.

"Sixty percent of our HP Integrity server customers are running Oracle applications and databases today, making this a key capability for our existing customers," said Bob Schultz, general manager of HP’s StorageWorks division.

HP recently received an IT outsourcing contract from GM.  For more on the IT outsourcing deal, read GM Will Outsource $15B in IT Work.

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