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HP takes aim at ArcSight

Just a few weeks after it agreed to acquire storage vendor 3Par, HP is reportedly looking at purchasing network security firm ArcSight for an alleged $1.5 billion.

HP is looking at taking over network security firm ArcSight.
HP is looking at taking over network security firm ArcSight.

Another security vendor looks set to fall as HP looks to be closing on software developer ArcSight in a deal worth a rumoured $1.5 billion.

The news comes on the heels of Palo Alto's recent acquisition of virtualised storage vendor 3Par on September 2 for $2.35 billion,  after a brief-but-fierce bidding war with rival Dell.

According to unnamed but senior company sources in the Wall Street Journal, ArcSight was looking for $42 a share. As of Friday, the firm was trading at $35, leading to a market capitalisation of $1.2 billion. A number of vendors are also rumoured to be in the hunt, with an earlier report in the Journal naming Oracle, EMC and IBM as other possible suitors for the Cupertino-based firm.