HP has announced that it’s entered into a definitive agreement to acquire Fortify Software.
The hardware giant will buy the privately held software security assurance company based in San Mateo, Calif, which it claims will help organisations reduce business risk, meet compliance regulations and protect against malicious application attacks by integrating security across application life cycle.
However, the companies have not disclosed any terms of the deal.
Upon close, HP said it will run Fortify initially as a standalone entity to ensure continuity while targeting the security market. Over time it will then integrate the brand into its Software and Solutions business. Fortify’s products will also become part of the Business Technology Optimisation application portfolio, which is available through HP’s sales and service channels.
Bill Veghte, executive vice president, Software and Solutions, at HP said: “Businesses operate in a world of increasing security and compliance challenges, and the applications and services that they rely on are core to the problem and the solution.
“With Fortify’s leadership in static application security analysis combined with HP’s expertise in dynamic application security analysis, organisations will have a best-in-class solution to improve the security of their applications and services.”
HP is definitely making the right purchase choices. Earlier this week analysts at Gartner said the revenue in the global security software industry is forecast to rise by 11.3 percent to $16.5 billion in 2010.
The prediction sees a significant increase from its 2009 revenue, which was $14.8 billion. 2010.