HP will acquire venture-backed data management company Vertica for an undisclosed amount. Billerica, Mass.-based Vertica has raised more than $30 million since it was formed in 2005, and is backed by investors including Kleiner Perkins Caufield & Byers, Bessemer Venture Partners, Highland Capital Partners and New Enterprise Associates. Terms of the acquisition were not released.
HP (NYSE:HPQ) today announced it has signed a definitive agreement to acquire Vertica, a privately held, real-time analytics platform company based in Billerica, Mass. Terms of the deal were not disclosed.
The acquisition of Vertica will enhance HP capabilities for information optimization, adding sophisticated, real-time business analytics for large and complex sets of data in physical, virtual and cloud environments. Vertica’s platform helps customers analyze massive amounts of data simply, quickly and reliably, resulting in “just-in-time” business intelligence.
“In today’s highly competitive environment, customers need the ability to manage the increasing amounts of data and growing streams of information with more flexible, more dynamic architectures,” said Shane Robison, executive vice president and chief strategy and technology officer, HP. “Vertica’s unique platform combines simplicity with industry-leading performance, allowing HP to leap ahead of the industry in the race to analyze massive amounts of data.”
“By combining Vertica’s offerings with HP’s brand and global reach, customers will benefit from the commitment, expertise and resources from the largest technology company in the world,” said Christopher Lynch, president and chief executive officer, Vertica. “Combined with HP, we will be able to better help customers develop flexible business performance solutions that improve decision making and streamline business processes.”
HP expects the acquisition to close in the second quarter of its fiscal year 2011. After the acquisition closes, Vertica products will be available through HP sales and service channels.
Vertica is the leading provider of next-generation analytics platforms enabling companies to monetize their data at the speed and scale necessary to deliver significant value to customers and shareholders. Vertica’s scalability and flexibility are unmatched in the industry. Vertica is used by more than 300 customers across a variety of industries worldwide, including Groupon, Twitter, Verizon, AOL, Guess!, Zynga, Playdom, Bank of America, BlueCross BlueShield, AdMeld, Sunoco, Mozilla and Comcast. Vertica’s North American headquarters is located in Billerica, Mass.
HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP is available at http://www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described in HP’s filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.