(Reuters) – Hewlett-Packard Co (NYSE:HPQ) said it would buy Fortify Software, a privately held security software maker based in San Mateo, California for an undisclosed sum.
Fortify’s technology will allow HP to offer software that helps organizations reduce business risk, meet compliance regulations and protect against malicious application attacks.
After the deal closes, HP will initially run Fortify as a standalone entity and later integrate it into its software and solutions business.
The companies had already tied up for an advanced security analysis technology.
HP, the biggest technology company by revenue, has been recently embroiled in a scandal regarding its CEO Mark Hurd, who resigned following a sexual harassment investigation.
Shares of the Palo-Alto, California-based company closed at $40.55 Monday on the New York Stock Exchange. They have lost more than 12 percent of their market value since the Hurd news. (Reporting by Sayantani Ghosh in Bangalore; Editing by Gopakumar Warrier)