HP Acquires Polyserve

PALO ALTO, Calif. -- HP (NYSE:HPQ - News) today announced that it has signed a definitive agreement to acquire PolyServe, Inc., a leading provider of storage software for application and file serving utilities.

The acquisition provides a strong entry point for HP into the high-growth enterprise network-attached storage (NAS) market and allows the company to extend NAS technology to blades, the fastest growing segment of the storage market. The acquisition will also allow HP to offer customers a powerful consolidation platform for databases that require high performance and resilience.

Founded in 1999, PolyServe is headquartered in Beaverton, Ore., has 117 employees and serves more than 500 customers in a variety of industries including finance, energy and technology. Financial terms of the transaction were not disclosed.

Hewlett-Packard Co.