HP looking at EDS for a possible buy out - Navtej Kohli

Navtej Kohli IT blog is the repository of latest developments in IT
industry. HP now wants to buy EDS to take on IBM.


After gobbling up Compaq for $25 billion in 2001, IT giant
Hewlett-Packard is looking at Electronic Data Systems (EDS) Corp for a
possible buy-out.


Media reports puts the deal size could be in the range of $12 billion to $13 billion.


HP and EDS confirmed that they are engaged in advanced discussions on a
possible business combination involving the two companies.


"There can be no assurances that an agreement will be reached or that a
transaction will be consummated. HP does not intend to comment further
until an agreement is reached or discussions are terminated," HP said
in a statement.


Buying Plano, Texas-based $22.1 billion EDS would give HP more tools to
compete against IBM in the lucrative field of technology consulting and
customer support.

This entry was posted by Navtej Kohli on Tuesday, May 13. 2008 at 20:57. and is filed under News in IT. You can leave a response, or trackback from your own blog.

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