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HP buys into data warehousing

Company is adding business intelligence and data management company Knightsbridge Solutions to its portfolio.

Hewlett-Packard has signed an agreement to purchase Knightsbridge Solutions, the company announced Tuesday. The Chicago-based company of 700 employees specializes in information management, as well as data warehousing, integration and management. The transaction will take place within the next 30 days, according to HP, after which the company plans to integrate Knightsbridge's business into its Technology Solutions Group. Financial terms of the deal were not disclosed.

The Knightsbridge acquisition closely follows HP's settlement last week with the California Attorney General's Office for $14.5 million in an attempt to put the infamous spying scandal behind it. The company also announced on Monday that CFO Robert Wayman is stepping down after 37 years at HP.