Entrenched in Scandal, HP Acquires Software Security Firm (HPQ)
Hewlett-Packard Co. (NYSE: HPQ) said Tuesday it would buy Fortify Software, a privately held security software maker for an undisclosed sum. HP shares are up 1.8% in mid-day trade, to $41.29.
The move, according to a Reuters report, "will allow HP to offer software that helps organizations reduce business risk, meet compliance regulations and protect against malicious application attacks."
News of the acquisition comes after HP's board recently ousted CEO Mark Hurd, who resigned following a sexual harassment investigation. The stock has subsequently retreated from its $46-$48 trading range, to the low $40s.
The Reuters report notes that "After the deal closes, HP will initially run Fortify as a standalone entity and later integrate it into its software and solutions business."
Hewlett-Packard Company is a global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and large enterprises.
