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H-P Taking on IBM With LeftHand Buy

Stock quotes in this article: HPQ , IBM , DELL  

Hewlett-Packard (HPQ Quote) said Wednesday it bought start-up company LeftHand Networks for $360 million in cash in an attempt to boost its data-storage strategy.

The acquisition of Boulder, Colo-based LeftHand, which sells virtualization software for expanding the capacity of storage hardware, could prove crucial as H-P looks to challenge IBM (IBM Quote) in the lucrative data-center space.

Faced with an increasingly volatile spending climate, tech vendors such as IBM and H-P are aiming to sell additional software and services on top of users' existing hardware, with virtualization a popular choice for customers. ...

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