HP to Acquire Peregrine Systems, Adding Powerful IT Asset and Service Management Solutions to HP OpenView Portfolio

HP to Acquire Peregrine Systems, Adding Powerful IT Asset and Service Management Solutions to HP OpenView Portfolio

HP and Peregrine Systems, Inc. (OTC:PRGN.PK), today announced that they have signed a definitive agreement pursuant to which HP will acquire Peregrine in a cash merger for $26.08 per share representing an aggregate equity value of $425 million. Upon close of the acquisition, Peregrine, and its leading IT asset and service management software portfolio, will be integrated into the HP OpenView business unit to create the industry’s most comprehensive distributed enterprise management software solution.

The acquisition will add key asset and service management components to the HP OpenView portfolio, a distributed management software suite for business operations and IT. Peregrine’s capabilities include asset tracking, expense controls, process automation, service control, service alignment, enterprise discovery, IT executive dashboard as well as outsourcing, business continuity and consolidation management.

“Peregrine will help HP deliver a more complete management software solution to CIOs and enhance their ability to manage their IT assets,” said Ann Livermore, executive vice president, Technology Solutions Group, HP. “Companies constantly look for ways to lower their technology costs, from the PC to the data center. Our strategy is to enable CIOs to manage the technology environment in an efficient and cost-effective manner.”

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