Hewlett-Packard will reportedly buy security software company ArcSight for $1.5 billion.
According to The Wall Street Journal, HP will pay a decent premium for ArcSight, but nothing 3Par-like. ArcSight's market cap was $1.2 billion at market close Friday.
In some respects, HP is playing catch-up when it comes to security software. IBM took ISS off the market and also bought Guardium, which is similar to ArcSight. EMC owns RSA. And Intel is in the process of buying McAfee.
Read more of "HP goes shopping (again), to buy ArcSight, says WSJ" at ZDNet's Between the Lines.