HP to buy ArcSight for $1.5 billion
Hewlett-Packard clinched the acquisition days after it defeated rival Dell in a bidding war for 3Par.
By Scott Moritz, TheStreet
Hewlett-Packard (HPQ) continued its acquisition spree with a $1.5 billion proposed buyout of network security shop ArcSight (ARST) on Monday.
Just 11 days after HP won a bidding war against Dell (DELL) for storage specialist 3Par (PAR) for $2.06 billion, the computer giant makes another deal to further expand its business beyond PCs.
ArcSight shares had been trading at 52-week highs this month as merger speculation heated up interest in the company, which recently put itself on the sales block.
HP says it will pay $43.50 in cash for all of the outstanding shares of ArcSight and expects the deal to close by year's end.
Hewlett-Packard shares were rising 0.1% to $38.21.
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