HP Acquires Electronic Data Systems For Around $12.6B

May 13, 2008 8:40 a.m. EST

Ed Sutherland - AHN Editor

Palo Alto, CA (AHN) - PC maker Hewlett-Packard announced Tuesday it will acquire Electronic Data Systems Corp. for almost $12.6 billion. The news confirms reports Monday that the two companies were involved in "advanced" negotiations.

As part of the deal, EDS investors will receive $25 per share. EDS chairman and CEO Ronald Rittenmeyer will continue to lead the new HP business and the company headquarters will remain in Plano, Texas.

The new EDS tie-up will create a services business with 210,000 and will boost related revenue for HP from $16.6 billion to around $29 billion.

Copyright © 2003 - 2008 AHN - All rights reserved.
Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.
License AHN news for your website, business, digital signage network or publication.



\| Home \| Client Login \| Submit News \| Privacy Policy \| Terms of Use \| Contact \| Services \|		© 2008 by AHN - All rights reserved