ArcSight to Be Acquired for $1.5 Billion by HP

Maintaining the spending spree post Chief Executive of HP, Mark Hurd's resignation from his position last month, the firm has now settled upon acquiring ArcSight Inc., which is a security-software maker, for almost $1.5 billion.

The accord struck is also a representation of the most recent buying of a smaller security firm by the giant corporation, which is a trend followed by the firm, in order to add security to the product portfolio.

The software made by ArcSight is mainly targeted at monitoring corporate networks to detect unusual activities like hackers' attempts to break into a particular system.

Shares of ArcSight on Monday ended trading 25.1% at $43.91 on the NASDAQ, which is over HP's offer price tag of $43.50 a share, recommending that a few traders must be hoping for tighter bid.

ArcSight, of Cupertino, Calif., had secretly been looking for some options in the technology market and the deal settled offered 24% premium going into the treasury of ArcSight's closing price, on Friday.

No comments were received from HP executives relating to the bidding move for ArcSight. Also, no information was received if Mr. Hurd would be brought back in the office to lead his previous role.