Hewlett Packard Co (NYSE: HPQ)announced it has signed an agreement to acquire Tabblo Inc., a privately-held developer of web-based software on Thursday.
Financial terms were not disclosed.
The company said it plans to leverage Tabbloâ€™s technologies to make printing from the web easier than it is today. The Cambridge Mass firm makes technology that allows people to arrange and print text, graphics and photos from the web.
By acquiring Tabbloâ€™s technology and making it available to companies that host popular websites, HP will be firmly on the path to becoming the print engine of the web, said Vyomesh Joshi, an executive vice president at HP.
Palo Alto Calif.-based HP plans to make the technology broadly available, working with other companies to integrate the technology into their websites.
The acquisition is subject to certain closing conditions and is expected to be completed within the next few weeks.
Shares of HP rose 0.65 percent today, rising 26 cents to close at $40.45 on the New York Stock Exchange.