Date: 11/06/2010

HP acquires Phoenix's HyperSpace assets

HP is buying the assets related to Phoenix's HyperSpace, HyperCore and Phoenix Flip instant-on and client virtualization products. The consideration for the transaction is $12 million in cash and the closing is expected to occur in June 2010. Phoenix says that this transaction is in a view to focus on the core system software (BIOS) market where it has already launched its SecureCore Tiano 2.0 BIOS product.

"We are very pleased that HP has agreed to acquire these assets relating to Phoenix's HyperSpace, given HP's rich history of innovation and product differentiation," said Tom Lacey, President and CEO of Phoenix.

For more information visit: http://www.phoenix.com