September 13, 2010 – Hewlett-Packard wants to buy ArcSight Inc., a security and compliance management company, for $43.50 per share, or an enterprise value of $1.5 billion, as it continues to ramp up its acquisition activity.

With the bid, announced this morning, HP is seeking improved security, and reduced risk at a lower cost for customers and shareholders, who will hear about the pitch directly from the company later today. ArcSight, headquartered in Cupertino, Calif., provides an industry leading cyberthreat and risk platform, SIEM, to more than 1,000 customers around the world, according to its website.

In a joint statement on the reportedly agreed upon acquisition, ArcSight president and executive officer Tom Reilly said that working as part of HP will allow his company to create a “new type of security solution, one that serves the modern enterprise.”

“In a world where perimeter security is no longer enough, businesses need this holistic approach to securing their networks, applications and sensitive data,” Reilly stated.

HP – in the midst of a lawsuit against former executive Mark Hurd, who last week became co-president at rival Oracle – bought data storage company 3Par earlier this month for more than $2 billion after a back-and-forth bidding battle with another rival, Dell. Other recent acquisitions by HP in the last few years include LeftHand Networks for $360 million.

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