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HP and EDS announce takeover

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Outsourcing
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Breaking news from ihotdesk, the home of IT outsourcing in London:
Hewlett Packard (HP) has agreed with EDS that it will acquire the IT services provider in a deal worth $13.9 billion (£7 billion).

Category Outsourcing
15 May 2008
 
Hewlett Packard (HP) has agreed with EDS that it will acquire the IT services provider in a deal worth $13.9 billion (£7 billion).

The transaction is expected to be finalised in the second half of this year and HP will establish a new business group, branded EDS, which will be headquartered at the firm's current base in Texas.

Mark Hurd, chairman and chief executive of HP, said that HP and EDS can create a leading force in global IT services.

"We will be a stronger business partner, delivering customers the broadest, most competitive portfolio of products and services in the industry," he added.

"This reinforces our commitment to help customers manage and transform their technology to achieve better results."

Earlier this week, Finextra reported that an IT outsourcing seminar will be held in London on June 5th.

Deutsche Bank, IBM and Societe Generale will make presentations at the conference, according to the technology news provider.



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