Dublin Virtual Office & Telephone Answering Service Packages

Sign up for one year payable in advance and save up to 50% on our already low monthly prices.
Call us now on (01) 20 20 212

DSO News

HP to buy cloud software startup Eucalyptus in rare acquisition

September 15th, 2014

Tech giant to acquire cloud company Eucalyptus Software in first deal since Autonomy in 2011

Hewlett-Packard plans to buy cloud software startup Eucalyptus Software, a rare acquisition for the company since its failed $11 billion purchase of Britain’s Autonomy in 2011.

HP did not say how much it will pay for Eucalyptus, which provides open-source software for building private and hybrid clouds, or Internet-based computing services. A source familiar with the deal told Reuters that HP would pay less than $100 million. Tech blog Re/code first reported the price tag earlier on Thursday.

The acquisition is expected to close in the fiscal fourth quarter, after which Eucalyptus chief executive Marten Mickos, a proponent of open-sourced software, will join HP as senior vice president and head of its cloud business.He will report to chief executive Meg Whitman.  Among his duties will be building HP’s “Helion” cloud computing services, the company said on Thursday.

Martin Fink, who now leads the cloud business, will remain chief technology officer as well as director of HP Labs, which focuses on researching next-generation products.

HP, once the world’s largest PC maker but now trying to become a leading provider of hardware and software to corporate and government clients, was forced to write down much of Autonomy after the company said it discovered serious accounting irregularities.

It ended the July 2014 quarter with $4.9 billion in operating company net cash. In August, Ms Whitman told analysts HP was in a position to make acquisitions if needed, though it remains committed to returning half its cash to shareholders.

Are you are looking for a serviced or virtual office in Dublin City Center or Dun Laoghaire, call us at Dublin Serviced Offices on 01 2020212

Leave a Reply

Previous post:
Next post: