Press Release: June 19, 2007
Topics:

HP to Acquire SPI Dynamics, Strengthening Capabilities in Application Quality Management

PALO ALTO -- HP today announced that it has signed a definitiveagreement to acquire SPI Dynamics, Inc., a leading provider of webapplication security assessment software and services, to furtherstrengthen its leadership in the IT application quality managementmarket.

Application qualitymanagement ensures that business systems, such as e-commercewebsites or financial and supply chain applications, function wellwithout any performance issues.

SPI Dynamics technology,which is already integrated with HP Quality Center software,enables customers to assess and identify security vulnerabilitiesalong the entire lifecycle of web applications – from development,quality assurance and deployment. Customers can also use SPIDynamics software to validate application security and qualityafter deployment and to meet auditing and compliance requirements,such as Sarbanes-Oxley.

Failure to test andremediate security defects or vulnerabilities before a businessapplication goes into production leaves confidential informationwithin a business-critical application at risk for security attacksand misuse.

“The number ofvulnerabilities to business-critical applications has gone upexponentially with the rise of web-based applications,” saidJonathan Rende, vice president of products, Quality ManagementSoftware, Software, HP. “Today, HP Software provides solutions thatensure that business applications run well. Now with the additionof SPI Dynamics, we can make sure it is also secure.”

Headquartered in Atlanta,privately-held SPI Dynamics has 140 employees and serves more than1,000 customers in the federal government, financial services andhealthcare industries, including HP.

“The combination of HP andSPI Dynamics will allow us to scale and provide our customers withthe industry’s most comprehensive application quality, performanceand security assessment solutions,” said Brian Cohen, chiefexecutive officer, SPI Dynamics. “For more than five years we havepartnered with HP, so I am very pleased to be joining forces tobetter serve our customers and partners.”

Financial terms of thetransaction were not disclosed. The acquisition is subject tocertain closing conditions and is expected to close in the thirdquarter of calendar year 2007. Following completion, the businesswill be integrated into the Software unit within HP’s TechnologySolutions Group.

About SPI Dynamics,Inc.

SPI Dynamics’ comprehensivesuite of products and services identify and remediate webapplication and web services security vulnerabilities throughoutthe application development lifecycle. These award-winningsolutions enable security professionals, QA testers and developersto work together to verify compliance with 22 security policiessuch as SOX, HIPAA and PCI. SPI Dynamics has more than 1,000application security testing customers worldwide. More informationis available at www.spidynamics.com or +1 866 774 2700.


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; theexpected timing of the completion of the transaction; anystatements of expectation or belief; and any statements ofassumptions underlying any of the foregoing. Risks, uncertaintiesand assumptions include the possibility that expected benefits maynot materialize as expected; risks related to the timing orultimate completion of the transaction; and other risks that aredescribed in HP’s Quarterly Report on Form 10-Q for the fiscalquarter ended April 30, 2007 and HP’s other filings with theSecurities and Exchange Commission, including but not limitedto HP’s Annual Report on Form 10-K for the fiscal year ended Oct.31, 2006. HP assumes no obligation and does not intend to updatethese forward-looking statements.

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