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Technology

UPDATE 2-HP nearing $1.5 bln deal to buy ArcSight-WSJ

* Deal could be announced on Monday -WSJ

* Second major HP deal since Hurd’s exit (Recasts, adds details on recent tech deals, HP’s acquisition of 3PAR)

NEW YORK, Sept 12 (Reuters) - Hewlett-Packard Co HPQ.N is nearing a deal to buy cybersecurity company ArcSight Inc ARST.O for about $1.5 billion, the Wall Street Journal reported on Sunday, the latest in a series of tech sector transactions.

ArcSight drew interest from several large tech companies and had been seeking around $42 per share, the Journal reported, citing unnamed sources. A deal could be announced as soon as Monday, the paper reported on its website.

ArcSight shares closed at $35.10 on Friday.

HP declined to comment. ArcSight was not immediately available for comment.

A deal would be HP’s second major acquisition since the departure of Mark Hurd as chief executive, showing the technology giant remains aggressive in pursuing growth despite the turmoil in the corner office.

Hurd, who left HP after he was accused of falsifying expense reports and concealing a relationship with a female contractor, is now a co-president at Oracle Corp ORCL.O.

Earlier this month, HP won a bidding war against rival Dell Inc DELL.O to buy data storage company 3PAR Inc PAR.N for $2.4 billion, in a deal that gave 3PAR a rich valuation. [ID:nN02238002]

The deal would also be the latest sign of consolidation in the security software sector. Last month, Intel Corp INTC.O agreed to buy McAfee Inc MFE.N for $7.7 billion. In May, Symantec Corp SYMC.O bought Verisign Inc's VRSN.O payment authentication unit for about $1.3 billion. [ID:nN19267038] (Reporting by Clare Baldwin and Paritosh Bansal; Editing by Marguerita Choy)

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