August 9, 2001 10:50 AM PDT
HP buyout buoys its network-software biz
The Trinagy products will become a part of HP's OpenView management software, said Bill Russell, vice president of HP's Software and Solutions Organization, in a conference call Thursday. Terms of the deal weren't disclosed, but it's expected to wrap up within the next month, Russell said.
Trinagy, a privately owned company founded in 1988, has headquarters in Torrance, Calif. and employs 125 people. The company isn't profitable but expects to be by the end of the calendar year, Chief Executive Officer David Woodall said.
Competitors include Concord Communications, also unprofitable at present.
The acquisition is part of HP's effort to remake its software group, a push that includes consolidating its software products into two major lines, discontinuing its OpenMail e-mail software and selling off its Verifone software unit.
HP is trying to increase the importance of software, services and storage as the company struggles with a difficult economic climate and troubles in the PC, server and printer areas of its business. HP announced a 6,000 person layoff in July.
Trinagy has several large customers, including many in the ailing telecommunications sector. Customers include AT&T, WorldCom, British Telecom, Verizon, Verio, BellSouth, Qwest, EDS, Marriott and IBM, said Patty Azzarello, general manager of HP's OpenView unit.
Woodall declined to say whether he planned to stay on at HP, saying the two companies were in the midst of figuring out new personnel roles.