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2014-09-13

HP may acquire cloud start-up Eucalyptus Software

The acquisition is expected to close in the fourth quarter of the current fiscal year, after which Eucalyptus chief executive officer Marten Mickos will join HP as senior vice president and head of its cloud business.

Hewlett-Packard Co plans to buy cloud software start-up Eucalyptus Software, as reported by Reuters.
 
 
The report further mentions that HP declined to comment on how much it will pay for Eucalyptus. A source familiar with the deal told Reuters that HP would pay less than $100 million.
 
 
The acquisition is expected to close in the fourth quarter of the current fiscal year, after which Eucalyptus chief executive officer Marten Mickos will join HP as senior vice president and head of its cloud business. 
 
 
HP ended the July 2014 quarter with $4.9 billion in operating company net cash. In August, Whitman told analysts HP was in a position to make acquisitions if needed, though it remains committed to returning half its cash to shareholders.
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