HP to Acquire Tabblo, Aims to Make Printing from Web Easier
PALO ALTO, Calif., March 22, 2007— HP today announced it has signed a definitive agreement to acquire Tabblo Inc., a privately-held developer of web-based software located in Cambridge, Mass.
HP plans to leverage Tabblo's technologies to make printing from the web easier and more convenient than it is today. Tabblo's technology allows people to simply and efficiently arrange and print text, graphics and photos from the web. This is made possible by Tabblo's custom template engine, using an AJAX-enriched interface.
HP plans to make this simple-to-use web-printing experience broadly available to people by working with other companies to integrate the technology into their websites. Together, HP and its partner companies will provide customers with a vastly improved web-based printing experience to meet the ever-growing need for simplified Internet-based printing.
"HP's goal is to make printing content from the web the easiest and best experience possible for people — whether they are printing a simple map or a book of their favorite blogs," said Vyomesh Joshi, executive vice president, Imaging and Printing Group, HP. "By acquiring Tabblo's technology and making it available to companies that host popular websites, HP will be firmly on the path to becoming the print engine of the web."
The acquisition is subject to certain closing conditions and is expected to be completed within the next few weeks. Financial terms of the transaction were not disclosed.
About Tabblo, Inc.
Tabblo Inc. is the creator of Tabblo.com, the best way to capture special moments and turn them into works of art. Tabblo's flexible templates give everyone the power to turn their photos into professional-looking creations both online and in print, without downloading or purchasing any software. Founded in 2005, Tabblo is based in Cambridge, Mass., is funded by leading venture capital firm Matrix Partners, and is led by experienced technologist and entrepreneur Antonio Rodriguez. For more information, visit
www.tabblo.com.
About HP
HP focuses on simplifying technology experiences for all of its customers — from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world's largest IT companies, with revenue totaling $94.1 billion for the four fiscal quarters ended Jan. 31, 2007. More information about HP (NYSE: HPQ) is available at
www.hp.com.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions.
All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation of belief; and any statements of assumptions underlying any of the foregoing.
Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to the risks described in HP's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2007 and other reports filed after HP's Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006.
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