HP to Acquire Vertica
HP has agreed to buy Vertica, a database management and analytics software firm, for an undisclosed sum.HP has agreed to buy Vertica, a database management and analytics software firm, for an undisclosed sum, reports Dan Berthiaume over at CTO Edge. HP expects the acquisition to close in the second quarter of its 2011 fiscal year, according to Bloomberg.
Vertica's real-time analytics platform will allow HP to enable its customers to analyze large and growing quantities of digital data. Regarding the acquisition, Peter Goldmacher, an investment analyst at Cowen and Co., said:
We view this acquisition as the first real move of significance for HP's new CEO. HP is finally getting back into the software business.
Vertica, based in Billerica, Mass., has a client list of more than 300 companies including corporate customers such as Bank of America, Comcast and Verizon and Internet companies such as AOL, Groupon and Twitter, says San Jose Mercury News.