California based Hewlett- Packard Co. has announced acquisition of cloud software start-up – Eucalyptus, for reportedly less than $100 million. Eucalyptus founded in 2009, provides technology that lets its clients store, process and deliver computing data via the internet.
HP has also named Marten Mickos, CEO of Eucalyptus, as the head of HP’s cloud business, who will report directly to the CEO Meg Whitman. Mickos has a long history of leading open- source clout companies, previously having worked as CEO of MySQL before its acquisition by Sun Microsystems. Mickos will lead the organisation in building out the HP Helion portfolio, under which HP’s cloud – computing hardware, software and services are sold. Since introducing HP Helion in May, HP has grown share in private cloud and was ranked as the leader in the Forrester Wave report for Private Cloud Solutions.
Mickos said in a release that “Eucalyptus and HP share a common vision for the future of cloud in the enterprise.”
HP’s press release focuses on Mickos, making the deal seem to be more focussed towards hiring him than a software acquisition.
HP has had a pause in its merger and acquisition activity under CEO Meg Whitman after the disastrous $11 billion deal for a British Software company Autonomy Corp. Prior to the which HP allegedly had a history of big acquisitions. HP’s stock did not show any significant effects after the big announcement.
The acquisition is expected to be closed in the fourth quarter of HP’s fiscal year 2014, which ends in October. The terms of the deal are yet to be disclosed.