Agreement between HP and EDS formally concluded

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Hewlett-Packard confirmed yesterday the completion of the purchase of EDS, for which it paid 13.9 billion dollars, something like 9.45 billion euros. The agreement, announced in May, has already received a positive opinion from both the US and European Union regulatory authorities, as well as the approval of the shareholder groups of both companies.

As the TeK had already published, the deal required the payment of 25 dollars for each share of EDS, which meant an increase of 34 percent compared to the value of the company’s shares in that period.

In a statement sent to the press yesterday, HP stressed that the company resulting from the integration of the information technology services division with EDS, which gave rise to the «EDS-an HP Company», will be responsible for a turnover of 38 billion dollars a year and will have a work team of 210,000 employees spread over 80 countries.

In an internal note, EDS disclosed the new organizational structure of the company, with Ron Rittenmeyer, president and CEO of the company, referring that this stage «marks an exciting new chapter in the evolution history of EDS», since the company becomes «an HP company, focused on premium services and part of the largest and most respected technology company in the world».

The official then announced the new direction, referring Michael Coomer to the senior vice president for the Asia Pacific region and Japan, Jeff Kelly as senior vice president for the Americas, Dennis Stolkey, as vice president for the public sector in the United States. and Bill Thomas, as senior vice president for Europe, the Middle East and Africa (EMEA).

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2008-05-13 – HP buys EDS for 13.9 billion dollars