Phoenix selling virtualization software lines to Hewlett-Packard for $12 million

Phoenix Tech selling software lines to HP for $12M

MILPITAS, Calif. — Software maker Phoenix Technologies Ltd. said Thursday it is selling three virtualization software lines to Hewlett-Packard Co. for $12 million as it continues to pare assets and focus on the core systems software market.

Virtualization software allows one server to replicate the function of multiple machines, letting companies get more out of each server they own.

Phoenix said the deal includes its HyperSpace, HyperCore and Phoenix Flip products. It expects to close the sale this month.

The sale follows Phoenix’s divestment in April of its FailSafe and Freeze assets.

The company’s shares were up 7 cents, or 2.4 percent, to $3.03 in morning trading.