HP (NYSE:HPQ)(Nasdaq:HPQ) today announced that it has signed a definitive agreement to acquire Knightsbridge Solutions Holdings Corp., a services company specializing in the information management areas of business intelligence, data warehousing, data integration and information quality.
Headquartered in Chicago, Knightsbridge has 700 employees, with offices across the United States and in London, and a focus on Fortune 500 customers and their global divisions. Financial terms of the transaction were not disclosed.
â€œRecognized for excellence and innovation, Knightsbridge advances HPâ€™s leadership position in delivering business intelligence and data warehouse solutions,â€ said John W. McCain, senior vice president and general manager, HP Services. â€œTogether, the two companies provide our customers with a world-class portfolio of information management solutions.â€
â€œCombining Knightsbridge with HP represents a huge advantage for our collective customers and partners,â€ said Roderick S. Walker, president and chief executive officer, Knightsbridge Solutions. â€œBy combining our business intelligence expertise with HP Services, we believe we can deliver more complete end-to-end information management services for our clients than either firm could have accomplished on its own.â€
The transaction is subject to certain closing conditions and is expected to be completed within approximately 30 days. Following completion, the business will be fully integrated into HP Services within HPâ€™s Technology Solutions Group.