Wow, just when people were trying to figure out if SPI Dynamics would have difficulty after IBM scooped up Watchfire the cat is out of the bag. HP has purchased SPI Dynamics as of this morning.

Hewlett-Packard Co. (HP) plans to acquire Web application security vendor SPI Dynamics Inc. and integrate the vendor’s software as a unit in HP’s Technology Solutions Group.

HP said the acquisition would help bolster security in its business systems, such as e-commerce Web sites or financial and supply chain applications. Financial terms of the transaction were not disclosed. The acquisition is expected to close in the third quarter.

Atlanta-based SPI Dynamics has 140 employees and serves more than 1,000 customers in the federal government, financial services and healthcare industries, including HP.

“The combination of HP and SPI Dynamics will allow us to scale and provide our customers with the industry’s most comprehensive application quality, performance and security assessment solutions,” Brian Cohen, chief executive officer, SPI Dynamics said in a statement. “For more than five years we have partnered with HP, so I am very pleased to be joining forces to better serve our customers and partners.”

Confirmation from SPI Dynamcis just in, the deal is done.

Article Link (thx B)

Tags: HP Buys SPI Dynamcis, HP, SPI Dynamics, M&A, Web Security Acquisition