Announced on Wednesday, HP said the company has signed a definitive agreement to divest network security business TippingPoint to global security firm Trend Micro.
TippingPoint is a developer of intrusion prevention software and network security solutions including perimeter defense and firewalls, catering for thousands of business clients. However, with Hewlett-Packard's upcoming corporate split, according to HP, the unit is no longer a fit.
"TippingPoint has been an important component of our security offering but we have decided to partner in network security as opposed to own so we can invest in other areas of our security portfolio," HP says. "After the deal closes [..] HP plans to continue to partner with TippingPoint as a strategic customer and partner in our Enterprise Services, Networking and Enterprise Security Products businesses."
The $300 million agreement includes TippingPoint's security product portfolio, intellectual property and the adoption of the firm's current enterprise customer base, as well as the handover of TippingPoint's Digital Vaccine LABS (DVLABS) threat intelligence data and HP's Zero Day Initiative security team.
Trend Micro hopes the buyout will put the company in good stead to become the "go-to enterprise security provider" for defense solutions spanning endpoints, network, data center and the cloud. In addition, the Tokyo-headquartered company plans to launch a Network Defense business unit which will serve at least 3,500 enterprise clients.
Eva Chen, CEO of Trend Micro commented:
"As an ideal complement to our market-leading protection for data centers and endpoints, this new next-generation network defense solution combines our best-in-class network breach detection system with proven intrusion prevention and response capabilities from TippingPoint.
Given our tenure with both HP and TippingPoint technology, we are excited about the agility of this acquisition and the value it will create for customers."
The deal is expected to be finalized in Q4 2015.
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