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H-P Closes Acquisition Of Vertica, Expands Software Offerings
By Ian Sherr
Of DOW JONES NEWSWIRES
SAN FRANCISCO -(Dow Jones)- Hewlett-Packard Co. (HPQ) closed its first acquisition Tuesday under new Chief Executive Leo Apotheker as the tech company moves forward on its strategy to build out its software products.
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H-P is the world's largest computer maker by unit shipments, but it has been largely absent from the newest computing trend, known as "cloud computing," in which computer programs and data are easily accessed over the Internet. Instead, H-P has become a leading supplier of servers, networking equipment and data storage products that companies use to create their own clouds.
With Vertica, H-P will offer specialized software that can help customers gain insight into both real-time sales trends and historical performance.
Several of H-P's rivals, including International Business Machines Corp. (IBM) and Oracle Corp. (ORCL), also have recently increased their efforts to offer products that can analyze large amounts of data.
Hewlett-Packard shares recently slid 13 cents to $41.63.
-By Ian Sherr, Dow Jones Newswires; 415-439-6455; ian.sherr@dowjones.com
(END) Dow Jones Newswires
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