HP To Buy Cloud Company Eucalyptus

(RTTNews) - Hewlett-Packard Co. (HPQ) said Thursday that it has agreed to buy Eucalyptus, a provider of open source software for building private and hybrid enterprise clouds.

Terms of the deal were not disclosed.

HP expects the acquisition to close in the fourth quarter of its fiscal year 2014. After the deal closes, Eucalyptus Chief Executive Officer Marten Mickos will join HP as senior vice president and general manager of the Cloud business, reporting to HP chairman, president and chief executive officer Meg Whitman.

In that role, Mickos will lead the HP Cloud organization in building out the HP Helion portfolio, based on OpenStack technology. Prior to Eucalyptus, Mickos was CEO of MySQL.

Martin Fink, who currently leads HP's Cloud business, will remain in his roles as chief technology officer of HP and director of HP Labs, where he will focus on innovation and creating groundbreaking solutions like The Machine. Fink will also continue to lead HP's Network Functions Virtualization business.