The acquisition is, by value, the largest in the IT services sector and the second largest in the technology industry, following HPs acquisition of Compaq, which closed in 2002. The companies collective services businesses, as of the end of each companys 2007 fiscal year, had annual revenues of more than $38 billion and 210,000 employees, operating in more than 80 countries.
This is a historic day for HP and EDS and for the clients we serve, said Mark Hurd, HP chairman and chief executive officer. 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.
Hewlett-Packard Co. (NYSE: HPQ)
Electronic Data Systems Corp. (EDS)