HP to Buy Mercury Interactive to Boost IT Management Software Business
Hewlett-Packard has agreed to acquire Mercury Interactive Corp., an IT management software and services company, for USD 52 a share, or an enterprise value of about USD 4.5 billion to expand its business software operations.
The deal will strengthen its OpenView product line by integrating Mercury’s application management, application delivery, IT governance and service-oriented architecture governance.
The Mercury acquisition is expected to increase the size of the HP Software business to more than USD 2 billion in annual revenue. The deal is expected to in the fourth quarter of calendar year 2006.
The acquisition will positions HP to compete with other major systems management software providers, including IBM's Tivoli unit, UniCenter and BMC Software.
HP forecasts that on a non-GAAP basis, the combined HP Software business will deliver revenue growth of about 10 percent to 15 percent and operating margin of about 20 percent in fiscal year 2008.
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