Hewlett-Packard Co.'s (HPQ) Buyout Binge
Hewlett-Packard Co. said Monday it has agreed to acquire two companies: Opsware Inc. in a deal valued at $1.65 billion and Neoware Inc. for $214 million.
Palo Alto-based HP (NYSE HPQ) said it will pay $14.25 for each share of Sunnyvale-based Opsware (NASDAQ:OPSW - News), a 39 percent premium on Friday's closing price of $10.28.
HP is offering $16.25 a share for King of Prussia, Pa.-based Neoware (NASDAQ:NWRE - News), about 7 percent above its Friday closing price of $15.24.
Neoware's software is used to centralize the management of desktop computers.
Opsware software helps firms automate corporate-data centers. In its mosr recently completed fiscal year ended Jan. 31, it posted a net loss of $16.1 million on revenue of $101.7 million.
Opsware was co-founded as Loudcloud by Chairman Marc Andreessen, the co-founder of Netscape Communications Corp. and former chief technology officer of America Online Inc., and Chief Executive Benjamin Horowitz, who is expected to join HP management, in 1999.
Both deals are expected to close by Oct. 31.
Published July 23, 2007 by the Silicon Valley / San Jose Business Journal
Palo Alto-based HP (NYSE HPQ) said it will pay $14.25 for each share of Sunnyvale-based Opsware (NASDAQ:OPSW - News), a 39 percent premium on Friday's closing price of $10.28.
HP is offering $16.25 a share for King of Prussia, Pa.-based Neoware (NASDAQ:NWRE - News), about 7 percent above its Friday closing price of $15.24.
Neoware's software is used to centralize the management of desktop computers.
Opsware software helps firms automate corporate-data centers. In its mosr recently completed fiscal year ended Jan. 31, it posted a net loss of $16.1 million on revenue of $101.7 million.
Opsware was co-founded as Loudcloud by Chairman Marc Andreessen, the co-founder of Netscape Communications Corp. and former chief technology officer of America Online Inc., and Chief Executive Benjamin Horowitz, who is expected to join HP management, in 1999.
Both deals are expected to close by Oct. 31.
Published July 23, 2007 by the Silicon Valley / San Jose Business Journal
Labels: Hewlett-Packard Co., HPQ, Neoware, NWRE, OPSW, Opsware
posted by Stock Administrator @ 7:25 PM
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