HP reportedly looking to offload TippingPoint business
Firewall hardware business could be valued at $200m to $300m
HP could be looking to sell TippingPoint, its firewall hardware business, for around $200m to $300m, according to a report from Reuters.
Citing sources familiar with the matter, Reuters said that private equity firms are interested in the business, and that HP would be keen to get the sale done ahead of its planned split on November 1. However, HP has not commented on the claims.
While TippingPoint might very well fit into HP's Enterprise business that will be separated from the consumer business later this year, the security hardware market is as competitive as ever. According to IDC's Quarterly Security Appliance tracker, Cisco and Check Point ruled the global market in Q1 2015, with 17.6% and 13.4% market share respectively. Palo Alto Networks, Fortinet and Blue Coat rounded out the top five vendors, with HP's TippingPoint not even getting a mention.
This, combined with the fact that HP is looking to sell off non-core assets, gives some credence to the TippingPoint sell-off rumours.
HP did not acquire TippingPoint as a standalone business - rather, it came as part of $2.7bn acquisition of 3Com Corporation in 2010.