Hewlett-Packard in Peregrine Systems Acquisition

Cleary Gottlieb is representing Hewlett-Packard Company in its acquisition of Peregrine Systems via a cash merger with an aggregate equity value of $425 million. The transaction is expected to close in the first quarter of 2006.

Peregrine develops enterprise software that enables companies to manage their information-technology assets and “help desk” operations. Peregrine will be integrated into HP’s OpenView business unit to create the industry’s most comprehensive enterprise management software solution. Hewlett-Packard is a leading global provider of products, technologies, solutions and services to consumers and businesses.