A few days ago I blogged about HP's decision to hire Tom Hogan to head up the software group. At the time, I postulated that the hiring likely signaled HP's intention to get more aggressive on the M&A front in order to bring its software group up to snuff.
HP wasted little time making good on my prediction, with the announced acquisition of OuterBay, a database archiving vendor that was founded in 1997 and hung on through the tough times.
OuterBay will be integrated into HP's StorageWorks division, and provides the firm a necessary component to a more comprehensive solution suite.
Note: At the time of this writing, I and/or funds I maintain discretionary control over do not maintain a long or short position in any of the companies mentioned.
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