HP Closes Opsware Acquisition
The deal combines Opsware’sindustry-leading IT automation offerings with HP Software’sbusiness and IT service management capabilities to boost HP’sBusiness Technology Optimization portfolio of enterprise ITmanagement software.
BTO is a category ofsoftware and services that enable chief information officers toenhance the value and optimize business outcomes from their ITinvestments.
“With Opsware, we haveelevated HP’s relevance to CIOs with products and solutions to helpthem transform and drive the next generation of data centers,” saidThomas E. Hogan, senior vice president, Software, HP. “By reducingoperational costs and improving efficiencies through IT automation,CIOs can invest in strategic growth initiatives to drive value andcompetitive advantage for their companies.”
HP also announced that ithas appointed Opsware Chief Executive Officer Ben Horowitz to leadthe Business Technology Optimization organization reporting toHogan.
Upon the closing of theacquisition, all remaining outstanding Opsware shares, other thanthose held by stockholders who properly perfect appraisal rightsunder Delaware law, were converted into the right to receive $14.25per share in cash. As a result of the transaction, Opsware hasbecome a subsidiary of HP.
This news releasecontains forward-looking statements that involve risks,uncertainties and assumptions. If such risks or uncertaintiesmaterialize or such assumptions prove incorrect, the results of HPand its consolidated subsidiaries could differ materially fromthose expressed or implied by such forward-looking statements andassumptions. All statements other than statements of historicalfact are statements that could be deemed forward-lookingstatements, including the expected benefits and costs of thetransaction; management plans relating to the transaction; anystatements of the plans, strategies and objectives of managementfor future operations, including the execution of integrationplans; any statements of expectation or belief; and any statementsof assumptions underlying any of the foregoing. Risks,uncertainties and assumptions include the possibility that expectedbenefits may not materialize as expected; that the parties areunable to successfully implement integration strategies; and otherrisks that are described from time to time in HP’s and Opsware’sSecurities and Exchange Commission reports, including but notlimited to the risks described in HP’s Quarterly Report on Form10-Q for the fiscal quarter ended July 31, 2007 and Opsware’sQuarterly Report on Form 10-Q for the fiscal quarter ended July 31,2007. HP assumes no obligation and does not intend to update theseforward-looking statements.
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