H-P Buys Mobile IT Company

Hewlett-Packard(HPQ Quote) announced plans to acquire a software company focused on managing mobile devices, strengthening its lineup in its nascent handheld business.

H-P said it had signed a definitive agreement to acquire privately held Bitfone of Laguna Niguel, Calif., on Wednesday. Terms of the deal were not disclosed.

H-P said the acquisition adds a strategic component to its portfolio of device management software, helping corporate customers manage the various mobile devices used by employees.

"Mobile device management is a key component to driving widespread mobile IT deployments," said Dave Rothschild, VP of H-P's handheld business unit. "With the acquisition of Bitfone, H-P adds mobile device management to a comprehensive management suite that already includes servers, desktops and notebooks."

Palo Alto, Calif.-based H-P, which had $91.7 billion in sales in its most recently ended fiscal year, has shown an appetite for mergers and acquisitions recently, picking up Knightsbridge Solutions earlier this month and plunking down $4.5 billion for Mercury Interactive in November.

The company has tagged mobile, Internet-connected devices as one of the three key technology trends that the company plans to capitalize on going forward.

In February, H-P formally consolidated its various handheld computing products into a stand-alone business unit, which operates within the company's larger personal systems group.

Shares of H-P, which closed Wednesday's regular session at a 52-week high of $41.34, were up 4 cents in extended trading.