Hewlett-Packard Cleared to Buy 15% Stake in Taligent Software Venture
Hewlett-Packard Co. has received clearance from federal regulators to purchase a 15% stake in Taligent, its high-end software venture with Apple Computer and International Business Machines Corp. Founded nearly two years ago, Taligent aims to develop object-oriented software that can work more efficiently than current versions. This type of software is designed to make it easier for users to write and revise programs on it, rivaling Microsoft's Windows NT, Sun Microsystems' Solaris, and Next Computer's NextStep.
Key Takeaways:
- Hewlett-Packard has been cleared to buy a 15% stake in Taligent, a high-end software venture with Apple and IBM.
- Taligent was founded nearly two years ago to develop object-oriented software that can work more efficiently than current versions.
- The venture's software is designed to make it easier for users to write and revise programs on it, a key differentiator from rivals such as Microsoft's Windows NT and Sun Microsystems' Solaris.
- Key customers for Taligent are businesses that can use the software to produce customized programs to run within their particular companies.
- Michael C. Leavell, Hewlett-Packard's vice president and general manager, has been named to Taligent's board of directors, joining six other members.
- The venture will license Hewlett-Packard technologies, indicating a potential strategic partnership.
- The other members of Taligent's board of directors include Joe Guglielmi, Jack D. Kuehler, Joseph A. Graziano, Steven A. Mills, and David C. Nagel.
Statistics:
- 15%: The percentage stake that Hewlett-Packard is cleared to purchase in Taligent.
- 2 years: The approximate amount of time that Taligent has been in operations.
- 6: The number of members currently on Taligent's board of directors.
Sources:
- Hewlett-Packard Co.
- Apple Computer
- International Business Machines Corp.