NEW YORK (Standard&Poor's) July 23, 2007--Hewlett-Packard Co. (HP, A/Stable/A-1) recently announced it has agreed to acquire Opsware Inc. through a cash tender offer for $14.25 per share, or an approximate value of $1.6 billion, net of existing cash and debt. Opsware is a data center automation software company. Standard&Poor's Ratings Services does not expect the proposed acquisition to have an impact on our ratings or outlook on the company. As of April 30, 2007, HP had cash and short-term investments in excess of $12 billion, and a strong financial profile. In addition, the proposed acquisition of Opsware is consistent with HP's strategy to expand its market position in the enterprise management software market. HP's rating continues
