Notable Mergers and Acquisitions of the Day 7/17: HPQ, TEG, PRGX
- HP (NYSE: HPQ) and IBRIX announced a definitive agreement for HP to acquire IBRIX, a leading provider of enterprise-class file serving software that includes data protection, high-availability features and data management services for extreme scale-out, cloud and high-performance computing deployments.
Customers with large-scale, data-intensive application environments find that storage performance often becomes a bottleneck for their workflows. IBRIX's solutions allow enterprises to easily and cost-effectively store massive amounts of user-generated data.
- Integrys Energy Group, Inc. (NYSE: TEG) announced that Integrys Energy Services of Canada Corp., a subsidiary of its nonregulated subsidiary, Integrys Energy Services, Inc., has signed an agreement to sell nearly all of its Canadian natural gas and electric power contract portfolio to Shell Energy North America (Canada) Inc., a subsidiary of Shell Energy North America (US). The transaction, which requires certain contractual consents and necessary regulatory approvals, is expected to close in the third quarter of 2009.
Upon close, the transaction will result in an incremental reduction of Integrys Energy Group's collateral requirements by an estimated $300 million.
- PRG-Schultz International, Inc. (Nasdaq: PRGX) announced that its UK subsidiary has acquired the business and assets of First Audit Partners LLP, a privately-held European provider of recovery audit services based in Cambridge, England. The business and assets of FAP are expected to be fully integrated into PRG-Schultz's European operations and will expand the growing list of major European retailers to whom PRG-Schultz provides services.
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