HP Completes Acquisition of EDS
By CXOtoday Staff
Mumbai, 27 Aug 2008, 1739 hrs IST

The acquisition, which was first announced in May this year, enables HP to expand its products, services, and end-to-end solutions portfolio.

Following the acquisition, HP s Technology Solutions Group (TSG) will shift its outsourcing services operations to EDS, as well as portions of its consulting and integration activities. TSG will focus on servers, storage, software and technology services, such as installing, maintaining and designing technology systems for customers, as well as certain consulting and integration services.

As a business group within HP, EDS will provide complete lifecycle capabilities in health care, government, manufacturing, financial services, energy, transportation, consumer & retail, communications, and media & entertainment.

The company said the combined offerings would be focused on helping clients accelerate growth, mitigate risks, and lower TCOs.

This is a historic day for HP and EDS and for the clients we serve, said Mark Hurd, HP chairman and CEO. 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.

The group is led by Ron Rittenmeyer, president and CEO, who had served as EDS chairman, president, and CEO. The leadership team of the new business group has a mixture of existing EDS direct reports, as well as new appointments from within EDS and HP.

According to an official press statement, this acquisition is, by value, the largest in the IT services sector and the second largest in the technology industry, following HP s acquisition of Compaq, which closed in 2002.


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