HP to acquire EDS for $13.9B

Hewlett-Packard Co. will acquire Electronic Data Systems Corp. for $13.9 billion. According to a press release, the transaction is expected to be completed by the second half of 2008.

HP is hoping that the acquisition of EDS, an operator of corporate computer systems, will more than double HP's services 2007 revenue of $16.6 billion. EDS will become a new business group held by HP and headquartered at EDS' existing offices in Plano, Texas. EDS chairman, president and chief executive officer Ronald A. Rittenmeyer will also join the company as a part of HP's executive council.

EDS' shares jumped from $19 per share to $24 per share Monday. - Maria Woehr

The Deal's Hewlett-Packard in talks to buy EDS
Dealscape's HP confirms active talks with EDS
Dealscape's Hewlett-Packard in talks to buy EDS

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