PALO ALTO, California ( TheStreet) -- Hewlett-Packard ( HPQ - Get Report) is buying privately-held Fortify Software in an attempt to bolster its application security story.

The computer and server maker, which reports its third-quarter results later this week, is acquiring the application security specialist for an undisclosed fee.

In a statement, HP explained that upon the deal's closure, Fortify will initially operate as a standalone business targeting the security space. Over time, however, the company will be integrated into HP's aoftware and solutions business. Fortify's products will eventually become part of HP's applications for business technology optimization.

The likes of Symantec ( SYMC - Get Report) and McAfee ( MFE) have much greater visibility in the security market than HP, although the hardware giant is attempting to ramp up its security story.

Security expertise has already been cited as a chink in HP's armor, particularly at a time when tech firms are looking to offer a bundle of systems, security and services. Websense ( WBSN) and SonicWALL have also been touted as potential acquisition targets.

HP is not the only company on a security tear. Rival IBM ( IBM - Get Report) recently opened its wallet, snapping up PC security specialist BigFix.

Shares of HP, which recently parted company with CEO Mark Hurd, rose 36 cents, or 0.89%, to $40.90 in pre-market trading.

-- Reported by James Rogers in New York

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