Trend Micro is beefing up its security portfolio to better compete with rivals like Symantec and Intel Security (McAfee) by purchasing HP TippingPoint. According to Trend Micro, the $300 million deal includes technology, intellectual property and customers.

Trend Micro intends to add TippingPoint's intrusion prevention solutions to its network breach detection products in a new business unit called Network Defense. According to Trend Micro, its portfolio now encompasses endpoint, network, data center and cloud security software.

With the acquisition, Trend Micro will offer "a layered threat defense working seamlessly across the enterprise to address threats before, during and after an attack," said Eva Chen, Trend Micro's CEO, in a statement.

Trend Micro and TippingPoint have had a strategic partnership since 2014, and the companies say HP and Trend Micro will continue the relationship following the acquisition. The two companies will partner on re-sale, managed services and OEM activities, as well as security intelligence, app security and data security.

For HP, the decision to divest TippingPoint is part of a larger reorganization that will see it split into two companies: Hewlett-Packard Enterprise, which will sell IT solutions and services, and HP Inc., which will sell hardware such as PCs and printers. However, it will continue to offer enterprise security solutions under several brands, including HP Fortify, HP Data Security, Aruba Networks, HP ArcSight, and HP Secure Access and Continuity Solutions.

According to Trend Micro, its researchers will work with researchers from TippingPoint’s Digital Vaccine LABS (DVLABS). In addition, it plans to continue TippingPoint's Zero Day Initiative, which discloses zero-day vulnerabilities. Earlier this year, for example, ZDI disclosed more than 100 vulnerabilities related to Adobe Reader.

Trend Micro and HP expect the deal to close by the end of the fourth quarter, assuming it passes regulatory muster.