HP on Wednesday announced that it will acquire LeftHand Networks, a company focusing on iSCSI SAN technology, for $360 million in an attempt to bolster its virtualization services for the enterprise.

HP believes that the LeftHand acquisition will help it attract more midsized organizations that are trying desperately to keep storage costs down as their needs continue to climb.

The acquisition will be finalized during the first quarter of 2009, at which time LeftHand Networks will be integrated into HP’s StorageWorks division.

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