PALO ALTO, Calif. -- HP today announced that it has completed its
acquisition of Electronic Data Systems Corporation (EDS), creating a leading force in
technology services.
With this acquisition, initially announced on May 13 and valued at an enterprise value
of approximately $13.9 billion, HP has one of the technology industrys broadest
portfolios of products, services and end-to-end solutions. The combined offerings are
focused on helping clients accelerate growth, mitigate risks and lower costs.
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)
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