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Palo Alto, California-based HP expects to complete the deal within about 30 days. The company said that after completion of the acquisition, Knightsbridge's business would be fully integrated into HP Services within HP's Technology Solutions Group. Chicago-based Knightsbridge specializes in the information management areas of business intelligence, data warehousing, data integration and information quality, with a focus on Fortune 500 customers and their global divisions.

The company employs 700 people, with offices across the U.S. and in London.

Commenting on the deal, John McCain, senior vice president and general manager, HP Services said, "Recognized for excellence and innovation, Knightsbridge advances HP's leadership position in delivering business intelligence and data warehouse solutions." "Together, the two companies provide our customers with a world-class portfolio of information management solutions." Knightsbridge's president and chief executive officer Roderick Walker said combining the company with HP represents a huge advantage for its collective customers and partners, adding that the combination can deliver more complete end-to-end information management services than the firm could have accomplished on its own.

For the fourth quarter ended in October, HP Services recorded year-over-year revenue growth of 5% to $4.1 billion. Quarterly revenues of Technology Services were flat with last year, while Consulting and Integration revenue rose 7% and Managed Services revenue climbed 16%.

HP Services' operating profit for the quarter was $505 million, up from $322 million a year ago. For fiscal 2006, HP services posted revenues of $15.62 billion, down from $15.

54 billion in the previous year. Technology Solution Group revenues rose to $34.23 billion from $33.

31 billion a year earlier. For the fiscal year 2006, the company's total revenues reached $91.66 billion, up 6% from $86.

70 billion last year. In a separate release issued on Tuesday, HP announced a significantly broadened software portfolio that leverages the power of HP's management software with recently acquired Mercury assets to help customers align business and IT, manage IT services and automate end-to-end change. In early November, HP had announced the completion of its tender offer for all of the outstanding shares of Mercury Interactive Corp.

A few days after that, the company revealed the completion of its Mercury acquisition and said that Mercury has become its wholly-owned subsidiary. In September, HP announced the signing of a definitive agreement with VoodooPC to acquire the high-performance gaming systems provider for undisclosed terms. The company said that upon completion of the purchase, VoodooPC's co-owner Rahul Sood is expected to assume the role of the Chief Technologist and another co-owner Ravi Sood would be the director of strategy for the group.

Among HP's co-players in the field, Armonk, New York-based International Business Corp. or IBM ( | | | ), on October 12 reported that it completed the acquisition of FileNet Corp. ( | | | ), a provider of business process and content management solutions.

Earlier, in August, IBM had announced a definitive agreement to acquire FileNet. IBM said then that it would integrate FileNet's operations into its Information Management software business, aiming at advancing the company's Information on Demand initiative. HPQ closed Monday's regular trading session at $40.

01, up $0.45, on a volume of 19.04 million shares.