HP announced this morning that they have signed a definitive agreement to acquire ArcSight, a leading security and compliance management company, for US$43.50 per share, making the deal worth US$1.5 billion in total.
Bill Veghte is executive vice president of HP's Software and Solutions division:
"From a security perspective, the perimeter of today's enterprise is porous, putting enormous pressure on clients' risk and compliance systems. The combination of HP and ArcSight will provide clients with the ability to fortify their applications, proactively monitor events and respond to threats."
It was only a little over a week ago that HP outbid Dell for 3PAR, a leading provider of utility storage, a category of highly virtualized and dynamically tiered storage arrays built for public and private cloud computing. Both Dell and HP slugged it out for 3PAR, with the purchase price for the company increasing from US$1.15 billion to US$2.07 billion in a matter of a week and a half.
ArcSight is traded on the NASDAQ, and closed out its 2010 fiscal year with US$181.38 million in sales and US$28.39 million in net earnings.
ArcSight is headquartered in Cupertino, California, with Canadian operations located in Mississauga, Ontario.