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HP to buy Peregrine Systems

By Derek Sooman

On September 20, 2005, 6:20 PM

HP will acquire Peregrine Systems for $425 Million, paying $26.08 for each Peregrine share. The deal, expected to close in Q1 2006, will see Peregrine's IT asset and service management software portfolio will be integrated into the HP OpenView business unit.

HP will also acquire ApplQ Inc, who specialise in open storage area network management and storage resource management technologies. No details were available of the amount of the sale. That company has about 250 offices in Great Britain, Hong Kong, Singapore and India. The deal is expected to be closed in about 45 days.

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