Hewlett-Packard (News - Alert) is planning to purchase the assets of Phoenix Technologies' HyperSpace, HyperCore and Phoenix Flip instant-on and client virtualization products for about $12 million.
The sale is expected to occur in June 2010.
'We are very pleased that HP has agreed to acquire these assets relating to Phoenix's HyperSpace, given HP's rich history of innovation and product differentiation,' said Tom Lacey, president and CEO of Phoenix.
Phoenix has decided to focus on core systems software, and previously sold its FailSafe and Freeze assets in April 2010.
Phoenix continues to enhance its core systems software technology and has unveiled the SecureCore Tiano 2.0 BIOS product.
In April 2010, Absolute Software Corporation purchased the technology assets of FailSafe and Phoenix Freeze from Phoenix Technologies (News - Alert) for $6.9 million. The two products gave Absolute additional features. It was also an opportunity for Absolute to expand its computer manufacturer relationships and embedded positions, the company said.
Phoenix has over 200 technology patents issued or pending, and has shipped firmware in over 1 billion systems. Phoenix is headquartered in Milpitas, California.
Technology giant HP did not say a lot about the planned purchase of HyperSpace from Phoenix.
In recent months, HP saw its second-quarter profit grow 28 percent with increased global sales, as well as significant profits reported in its PC and server business. For the quarter ending April 30, the world's largest manufacturer of personal computers saw profits in PCs increase 23 percent, while unit shipments in the personal systems group, which includes PCs, increased 20 percent.
Overall, HP saw quarterly profits of $2.2 billion, or 91 cents a share, up from $1.72 billion, or 71 cents a share, a year earlier. Excluding charges related to restructuring and acquisitions, earnings increased to $1.09 from 86 cents. Company revenue increased 13 percent to $30.85 billion.