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HP deal puts Peregrine's problems in the past.

Publication: San Diego Business Journal
Publication Date: 26-SEP-05 		Format: Online
Delivery: Immediate Online Access
Full Article Title: HP deal puts Peregrine's problems in the past.(Hewlett-Packard Co. and Peregrine Systems Inc.)

Article Excerpt
Peregrine Systems Inc. may finally put its scandal-plagued past behind it with the news last week that it's selling itself to Hewlett-Packard Co.

"Our people feel very good about HE and very good about all the uncertainty that surrounded Peregrine has been eliminated," said Chief Executive Officer John Mutch. "We've had a super-positive response to the news."

The Palo Alto-based technology giant agreed earlier this month to acquire the San Diego-based software firm for $26.08 per share, or an aggregate cash price of $425 million. The transaction requires approval of Peregrine's shareholders and regulatory blessing, but is expected to close by the first quarter of 2006.

While HP is better known as the world's No. l maker of computer printers and the No. 2 maker of personal computers, it also does a flourishing business in providing specialized software that helps large corporations manage extensive systems such as their computer networks.

The type of software made by Peregrine complements the product line of HP's systems management software, called OpenView, said Ken Bender, managing director of Software Equity Group, a locally based software investment bank.

"HP didn't...

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