HP to buy cloud software startup in rare acquisition

Hewlett-Packard Co. plans to buy cloud software startup Eucalyptus Software, a rare acquisition for the company since its $11 billion purchase of Britain's Autonomy PLC in 2011.

HP did not disclose the purchase price for Eucalyptus, but a source familiar with the deal told Reuters the cost is less than $100 million.

The acquisition is expected to close in the fiscal fourth quarter, after which Eucalyptus CEO Marten Mickos, a proponent of open-sourced software, would join HP as senior vice president and head of its cloud business.

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