Monday, August 11, 2008

HP Buys Colubris Networks

Palo Alto-based HP said Monday that it has acquired Colubris networks, a maker of wireless access products. Financial terms of the deal were not disclosed. Colubris Networks is based in Waltham, Mass. HP said it will integrate Colubris into its line of ProCurve Networking products. The deal is expected to close by the end of HP's fiscal 2008. Colubris was venture backed by Business Development Bank of Canada; DCM-Doll Capital Management; GrandeBanks Capital; Mid Atlantic Venture Funds; Prism VentureWorks; and Telecommunication Development Fund.