Hewlett-Packard (HPQ) will acquire open source software provider Eucalyptus to bolster its hybrid cloud portfolio. Financial terms of the transaction were not disclosed, but several sources have indicated the transaction could be valued at roughly $100 million.

Eucalyptus specializes in open source software for building private and hybrid enterprise clouds, and the acquisition could help HP bolster its Helion hybrid cloud portfolio.

“We’ve said before that we believe the future of the cloud is open source, and this transaction underscores our deep commitment to helping customers build enterprise-class, open clouds their way,” HP Chief Technology Officer Martin Fink said in a prepared statement. “We’ve already seen significant momentum since launching HP Helion and have put in place an outstanding team.”

Eucalyptus CEO Marten Mickos also will join HP as the company’s senior vice president and general manager of its cloud business.

“The visions and dreams of the Eucalyptus team, my own passion for leading fast-moving innovative teams, the amazing strength of HP’s Cloud team and the ambitious goals of HP overall are coming together. This strong combination will provide our customers with the world-class solutions, services and support for private, managed and hybrid clouds,” Mickos wrote in a blog post.

HP continues to invest in the cloud

HP announced its Helion portfolio in May, and since that time, the technology giant has made several cloud investments.

In addition to the Eucalyptus acquisition, HP launched the Helion Network in June and Helion Virtual Private Cloud (VPC) Lean in August.

HP also is extending its commitment to OpenStack technology and hybrid IT delivery and said it plans to invest more than $1 billion over the next two years to support and deliver new open source cloud products and platforms.

“Customer challenges today extend beyond cloud. They include how to manage, control and scale applications in a hybrid environment that spans multiple technology approaches,” Fink said in a prepared statement. “HP Helion provides the solutions and expertise customers need to select the right deployment model for their needs and obtain the greatest return for their investment.”

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