Skip to main content
HP Scoops Up ArcSight for $1.5 B

HP Scoops Up ArcSight for $1.5 B

Hewlett-Packard snares another tech deal in bold bid to expand business beyond the sinking PC segment.

Hewlett-Packard snares another tech deal in bold bid to expand business beyond the sinking PC segment.

NEW YORK, (

TheStreet

) -

Hewlett-Packard

(HPQ) - Get Free Report

continued its acquisition spree with a $1.5 billion proposed buyout of network security shop

ArcSight

(ARST)

Monday.

Just 11 days after HP won a bidding war against

Dell

(DELL) - Get Free Report

for storage specialist

3Par

(PAR) - Get Free Report

for $2.06 billion, the computer giant makes another deal to further expand its business beyond PCs.

ArcSight shares had been trading at 52-week highs this month as

merger speculation

heated interest in the company, which recently put itself on the sales block.

HP says it will pay $43.50 in cash for all of the outstanding shares of ArcSight and expects the deal to close by year-end.

ArcSight shares jumped $8.58, or 24%, To $43.68 in premarket trading Monday.

--Written by Scott Moritz in New York.>To contact this writer, click here: Scott Moritz, or email: scott.moritz@thestreet.com.To follow Scott on Twitter, go to http://twitter.com/TheStreet_Tech.>To send a tip, email: tips@thestreet.com.