Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
HP to acquire EDS for US$13.9 bllion
Posted on 14-May-2008 11:42 | Tags Filed under: News



HP and EDS have confirmed that they have signed a definitive agreement under which HP will purchase EDS at a price of US$25.00 per share, or an enterprise value of approximately US$13.9 billion.

The terms of the transaction have been unanimously approved by the HP and EDS boards of directors.

The notice came just a day after HP had confirmed the companies were in talks regarding this negotiation.

The transaction is expected to close in the second half of calendar year 2008 and to more than double HP's services revenue, which amounted to US$16.6 billion in fiscal 2007. The companies' collective services businesses, as of the end of each company's 2007 fiscal year, had annual revenues of more than US$38 billion and 210,000 employees, doing business in more than 80 countries.

HP intends to establish a new business group, to be branded EDS - an HP company, which will be headquartered at EDS's existing executive offices in Plano, Texas. HP plans that EDS will continue to be led after the deal closes by EDS Chairman, President and Chief Executive Officer Ronald A. Rittenmeyer, who will join HP's executive council and report to Mark Hurd, HP's chairman and chief executive officer.

"The combination of HP and EDS will create a leading force in global IT services," said Hurd. "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."

HP says acquiring EDS advances its stated objective of strengthening the services business. The specific service offerings delivered by the combined companies are: IT outsourcing, including data center services, workplace services, networking services and managed security; business process outsourcing, including health claims, financial processing, CRM and HR outsourcing; applications, including development, modernization and management; consulting and integration; and technology services. The combination will provide extensive experience in offering solutions to customers in the areas of government, healthcare, manufacturing, financial services, energy, transportation, communications, and consumer industries and retail.







comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

iPhone 8/iPhone X, impressions?
Created by surfisup1000, last reply by alasta on 19-Sep-2017 18:42 (295 replies)
Pages... 18 19 20


Auckland Airport fuel supply obliterated by digger
Created by Batman, last reply by k1wi on 20-Sep-2017 00:26 (138 replies)
Pages... 8 9 10


When did we become America
Created by BTR, last reply by tripper1000 on 19-Sep-2017 21:35 (25 replies)
Pages... 2


How to backup/copy an iphone app?
Created by Batman, last reply by scuwp on 19-Sep-2017 19:37 (24 replies)
Pages... 2


Imminent iPhone update to wipe out 32-bit apps
Created by Davy, last reply by surfisup1000 on 19-Sep-2017 23:04 (21 replies)
Pages... 2


New Vodafone Plans
Created by alasta, last reply by Linux on 18-Sep-2017 20:47 (84 replies)
Pages... 4 5 6


Vodafone ping down?
Created by 01EG, last reply by 01EG on 16-Sep-2017 18:26 (20 replies)
Pages... 2


Sky blames piracy for lost customers. Sky: it's time to wake up and smell the coffee.
Created by kingdragonfly, last reply by tdgeek on 19-Sep-2017 20:34 (479 replies)
Pages... 30 31 32