HP acts, finally

HP announced last week that it is buying Peregrine Software for a tidy premium. While HP could have done better, by going after a more focused takeover target, it is now moving in the right direction.

I had posted a few months ago listing possible targets. With this buyout, Altiris loses a potential buyer. Altiris stock is still worth buying (I own a few shares), since someone like EMC, Novell or even IBM may be interested.

HP's stock is expensive at this point, especially since it has not yet acted on getting rid of its PC business or making its printer business more diversified by getting into the specialty/transaction printer markets.