Private equity firms have expressed interest in TippingPoint and the deal could be valued at between $200 million to $300 million.
HP is reviewing all parts of its business to find assets that may not fit into the separate companies ahead of a planned corporate breakup in November.
HP plans to split into two publicly listed companies, one focused on enterprise technology, software and services and one focused on slower-growing computer and printer businesses.
TippingPoint makes hardware for companies’ firewalls and competes against companies such as Palo Alto Networks. Its technology is not a key part of HP’s broader security strategy, which is focused on more sophisticated, faster-growing areas such as encryption. In fact, HP bought an encryption company called Voltage Security.
HP bought TippingPoint as part of its $2.7 billion acquisition of 3Com in 2009. In May, HP sold a controlling stake in H3C Technologies, another unit of 3com, to China’s Tsinghua Unigroup for $2.3 billion. It sounds like the 3Com assets have been flogged of for a tidy profit, which is something that the current HP board can thank its former CEO Mark Hurd.