HP seals Comdisco deal for $750m

Disaster recovery - quite literally...

Comdisco has finally agreed to sell its disaster recovery business to Hewlett-Packard for $750m after a fraught period of to-ing and fro-ing with rival bidder SunGard. Comdisco is currently in Chapter 11 bankruptcy proceedings, but a court auction sold the disaster recovery unit to SunGard for $825m in spite of the firm's initial intention to sell it to HP. The SunGard deal subsequently ran aground on a Department of Justice veto, allowing HP to move in and clinch the deal.