HP to acquire EDS

14 May 2008

HP is to establish a new business group through the acquisition of EDS.

The transaction, which is expected to conclude in the second half of calendar year 2008, is expected to result in significant synergies. The new business group will be branded ‘EDS – an HP company’, and will more than double HP’s services revenue.

“The combination of HP and EDS will create a leading force in global IT services,” said Mark Hurd, chairman and chief executive officer of HP. “Together, we will be a stronger business partner, delivering customers the broadest, most competitive portfolio of products and services in the industry. This reinforces our commitment to help customers manage and transform their technology to achieve better results.”