HP Completes Acquisition of EDS

The new HP services will have annual revenues of more than $38 billion.

Hewlett-Packard said on August 26 in had completed its acquisition of Electronic Data Systems (EDS), bolstering the tech giant in the market for IT services against IBM.

"Independently, each company is a respected industry leader. Together, we are a global leader, with the capability to serve our clients -- whatever their size, location or sector -- with one of the most comprehensive and competitive portfolios in the industry," said Mark Hurd, HP chairman and chief executive.

The deal gives HP "the technology industry's broadest portfolios of products, services and end-to-end solutions," a company statement said.

The new HP services includes annual revenues of more than $38 billion and 210,000 employees, operating in more than 80 countries.

Copyright Agence France-Presse, 2008

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