HP to acquire Bluestone in stock swap deal

Hewlett-Packard announced Tuesday it would acquire Bluestone Software in a stock-for-stock transaction. Bluestone develops Internet application servers and transaction software, and HP said in a statement it would use the acquisition to expand the range of tools it offers to help customers deploy Internet-based services.

According to HP, Bluestone shareholders will get 0.2433 pre-split HP common shares for each Bluestone common share, and the deal will be accretive in fiscal year 2001 on a cash earnings per share basis.

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