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Tickers in this Article: HPQ, PG
Hewlett-Packard Company (HPQ) recently announced that information technology (IT) infrastructure services provider vBridge has opted for its Converged Storage solution for an undisclosed amount.

With the solution, vBridge will be able to increase its data center capacity to meet the growing demand for cloud services. vBridge had already deployed H-P's Converged Infrastructure suite to set up a high performance cloud infrastructure along with its IT eco system. Now, in order to meet the increasing demand, vBridge deployed H-P Converged Storage, an integral part of the Converged Infrastructure portfolio, aimed particularly at boosting data center storage capabilities. vBridge has seen massive demand ramp for its services since 2011, after the Christchurch region faced a devastating earthquake.

Per the contract terms, H-P offered its LeftHand Storage solutions. The solution is responsible for a considerable reduction in Storage Area Network costs, faster disaster recovery and constant data availability in both the physical and virtual environments.

H-P's Converged suites bring together servers, storage and networking products to manage data centers from a common platform. The Converged platform has been designed to make data center handling simpler, more flexible, efficient and cost effective.

In today's technology-driven world, the enterprise storage space is one of the most enviable growth areas and we believe that H-P is doing very well in this category. In June, H-P's Converged suites for storage, networking and infrastructure were deployed by ace retailer Procter & Gamble Co. (PG), to achieve constant and uninterrupted IT services.

H-P has witnessed growing demand for its Converged portfolio. Though this is encouraging, slowing profitability, lackluster PC demand and overall macro uncertainty keep us on the sidelines.

Currently, H-P has a Zacks #3 Rank, implying a short-term Hold rating.

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