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Hewlett-Packard Co. continued its string of software acquisitions last week when it announced a pact to acquire asset management and IT service management provider Peregrine Systems Inc. for $425 million.
Despite an accounting scandal and bankruptcy filing for Peregrine within the past few years, HP found that the San Diego company has put in place the necessary financial controls under new leadership to make it a “credible” acquisition, said Todd DeLaughter, vice president and general manager of the Management Software Business at HP, based in Palo Alto, Calif.
Peregrine, which shed nonstrategic assets as part of its bankruptcy activity, strengthens HPs position in the IT service management arena, making it a stronger competitor to market leader Remedy, now owned by BMC Software Inc. Peregrine brings business software to HPs OpenView that provides asset discovery and tracking, expense controls, process automation, and IT service control and alignment, along with business continuity and consolidation management.
There is overlap between Peregrines ServiceCenter software and HPs OpenView Service Desk offering. However, rather than drop one of the offerings, HP intends to merge the two and invest additional resources into integration. “Well combine those two teams and double up on the investment,” said DeLaughter.
HPs road map for integration wont be disclosed until the acquisition is complete, which is expected to take place in the first quarter of next year.