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July 26, 2001|Bloomberg News

* Hewlett-Packard Co. agreed to buy StorageApps Inc. for $350 million in stock to expand its data storage business.

Bridgewater, N.J.-based StorageApps, which announced plans in November to raise as much as $115 million in an initial public offering, withdrew the plans Wednesday, according to a Securities and Exchange Commission filing.

Shares of Palo Alto-based HP fell 7 cents to close at $25.68 on the NYSE.

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