Hewlett-Packard (NYSE:HPQ) Planning Acquisition

Hewlett-Packard (NYSE:HPQ) has indicated its plan to buy Tibco Software Inc.

Hewlett-Packard (NYSE:HPQ) Planning Acquisition

Ending recent speculation which had been surrounding the possibility of Hewlett-Packard (NYSE:HPQ) buying Tibco Software Inc, HP chief executive Leo Apotheker revealed the company’s plan to acquire a software developing company for less than 3 percent of revenue.

The sources said that Tibco, which was detached from Reuters in 1999, had been working with its financial adviser Goldman Sachs to make this deal happen.

Both of the companies have yet to make an official statement about it.

Hewlett-Packard Co. (NYSE:HPQ) shares were at 41.05 at the end of the last day’s trading. There’s been a -9.7% change in the stock price over the past 3 months.

Hewlett-Packard Co. (NYSE:HPQ) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 1.51
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 1.61
Zack’s Rank: 2 out of 2 in the industry