by CIO Staff

HP Acquires Peregrine Systems

Sep 19, 20051 min
Mergers and Acquisitions

Hewlett-Packard Co. (HP) is to acquire IT asset and service management software vendor Peregrine Systems Inc. in a cash deal for US$425 million, the two companies announced Monday. By integrating Peregrine’s products into its HP OpenView systems management suite, HP hopes to position itself as one of the market leaders in asset management software.

The deal is subject to the approval of Peregrine shareholders and regulators. HP expects to close the deal no later than the first quarter of 2006, according to a company release.

–China Martens