Phoenix Technologies today announced that Hewlett-Packard has agreed to purchase the assets related to its HyperSpace, HyperCore and Phoenix Flip instant-on and client virtualization products. The consideration for the transaction is $12 million in cash and the closing is expected to occur this month.

With the sale of its virtualization technology product line, Phoenix is moving forward with its strategy of ditching offerings that do no longer fit its focus on the core systems software (BIOS) market.

In April 2010, Phoenix had already sold its FailSafe and Freeze assets. Divesting other non-core assets including Hyperspace and eSupport are among the company’s plans to further reduce expenses associated with non-core products.