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Monday, July 23, 2007

HP signed a merger agreement to purchase Neoware Inc.

HP today announced that it has signed a definitive merger agreement to purchase Neoware Inc. , a provider of thin client computing and virtualization solutions, at a price of $16.25 per share, or an enterprise value (net of existing cash) of approximately $214 million on a fully diluted basis.

This is the another deal of HP on the same day.

The acquisition is part of HP's strategy to expand in growth markets and further its leadership in personal computing. Acquiring Neoware is intended to accelerate the growth of HP's thin client business by boosting its Linux software, client virtualization and customization capabilities, expanding its regional sales footprint and broadening its hardware portfolio.

"Our objective is to become the preferred brand of thin clients and software for virtualized client computing," said Kevin Frost, vice president, Business Desktops, Personal Systems Group, HP. "Thin clients are an important component in today's overall computing strategy and play a critical role in HP's virtualization strategy. Acquiring Neoware confirms our commitment to thin client computing and client virtualization solutions."

About Neoware

Neoware, Inc. provides enterprises throughout the world with secure and easily managed thin client computing devices, software for using PCs as thin clients, and services that integrate Neoware’s open thin client technology to enterprise computing environments.

Neoware software manages and secures thin clients and traditional personal computers, enabling them to…

- Run Linux®, Microsoft® Windows® and Web applications across a network
- Stream virtualized operating systems on demand
- Connect to mainframes, mid-range, UNIX® and Linux® systems

Headquartered in King of Prussia, Pa., Neoware has offices in Europe and Asia.

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