Hewlett-Packard May Buy EMC, Barron's Says, Citing Andrew Neff
By Chitra Somayaji
Hopkinton, Massachusetts, Aug. 5 (Bloomberg) -- Hewlett Packard Co. may buy computer data-storage systems company EMC Corp., Barron's reported, citing Andrew Neff, an analyst at Bear Stearns & Co. in New York.
The purchase would give Hewlett-Packard a high-end storage line and complement the business it acquired through its purchase of Compaq Computer Corp., Barron's said. The acquisition would also disrupt EMC's relationship with Dell Computer Corp., a rival of Hewlett-Packard, Barron's said, citing Neff.
EMC and Hewlett-Packard are in talks, Barron's said, citing Neff. The companies also said on July 17 that they would exchange application programming interfaces, or software platforms on which storage management systems sit. That agreement creates an open standard so the companies' products can work with one another, Barron's said.
Valuations of technology companies have fallen enough to make mergers and acquisitions more attractive, Barron's said. Some companies are likely to enter transactions to prepare themselves for when technology spending by increases, Barron's reported.
(Barron's 8-5 Online
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