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Associated Press
HP Agrees to Buy Arteis
Associated Press 04.24.07, 4:48 PM ET

Hewlett-Packard Co., which makes computers, printers and other computing products, said Tuesday it agreed to purchase privately-held Arteis, which owns online graphic design services company Logoworks.

Terms of the deal were not disclosed. HP said it anticipates the acquisition will close during its third fiscal quarter.

HP said it expects to use Logoworks to offer Web-based graphic design services for small businesses.

HP will also gain Arteis' LogoMaker application from the purchase, which lets users make their own logos.

Arteis is based in Lindon, Utah.

HP shares gained 24 cents to close at $41.65 on the New York Stock Exchange.

Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed

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