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BOULDER - LeftHand Networks Inc.'s co-founder Bill Chambers is calling Hewlett-Packard's acquisition of his company "a natural fit."
The Boulder-based network-storage company is being acquired by Hewlett-Packard Development Co. LP for $360 million in cash.
The acquisition, announced Oct. 1, is pending "certain purchase price adjustments" and is expected to be complete by the end of November. LeftHand will be integrated into the Palo Alto, Calif.-based H-P (NYSE: HPQ) StorageWorks division of the Technology Solutions Group.
"Joining with H-P is a natural fit for our customers and channel partners," said Chambers, LeftHand's co-founder, president and chief executive, said in a statement. "The combination of LeftHand Networks' virtualization technologies with H-P's has the power to significantly accelerate server consolidation projects by making the deployment of shared storage much easier and more cost effective."
Chambers, who co-founded the company with John Spiers in 1999, approached H-P approximately a year ago about a...