Press Release: April 06, 2011
Topics: Financial

HP Advances Software Strategy with Plans for New Bay Area Facility

PALO ALTO -- Building on its plans to accelerate its software strategy, HP today announced that it has signed a leasing agreement for Moffett Towers in Sunnyvale, Calif., to create a state-of-the-art software innovation center.

Software is a critical element at the heart of HP’s growth strategy, outlined by HP President and Chief Executive Léo Apotheker on March 14.

The new facility will bring together some of HP’s multiple offices across the Bay Area, including those at recently acquired Fortify and ArcSight, to create a single community focused on enhancing HP’s leading IT management, automation and security software portfolios. HP’s offerings developed in this location will provide important information management capabilities that can be adapted for specific vertical industries.

“Software is the cornerstone of HP’s vision to provide seamless, secure, context-aware experiences for the connected world,” said Bill Veghte, executive vice president, Software, HP Enterprise Business. “Our plans to bring together all of our software assets at Moffett Towers is a testament to our goal of being the leader in software that manages, analyzes and secures all the data moving through the cloud – and our devices.”

HP will begin occupation of Moffett Towers in early 2012. Moffett Towers is the premier 1.8 million square foot office and research and development campus located at the junction of Highways 237 and 101 in Sunnyvale. Developed by San Francisco based Jay Paul Company, the LEED Gold certified, high-performance buildings offer an amenity-rich environment in the heart of Silicon Valley.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP (NYSE: HPQ) is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected operational and financial results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2011 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2011 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.

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About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.