Acquisitions

Do you remember that three years ago Hewlett-Packard Co. was struggling to reach its major rivals? Well, now it has snatched the position of the world's largest technology company from IBM and that of world's the top seller of personal computers from Dell. This is all due to Mark Hurd who was hired as CEO three years ago. He managed to double the company’s stock price and acquired some important businesses like software maker Mercury Interactive Corp and data management provider Opsware Inc. Forced by the Wall Street Journal’s article rumoring a deal with technology services provider Electronic Data Systems Corp (EDS), on Monday both HP and EDS confirmed being in talks. Yet they refused to comment any further on the deal that would bring more consulting and data management contracts to HP who lingered for a long time to surpass IBM even in this area. This acquisition would be the biggest since that of Compaq Computer Corp. in 2002. Nevertheless, EDS was rumored to be talking to Deutsche Telekom and Dell previously and even though it was never confirmed, it might mean the company has unreasonable demands. Also, a corporate marriage with HP could bring forward irreconcilable differences. Because the market of technology consulting and customer support services has a high demand, HP focuses now on developing this division and the deal with EDS comes after in 2000 lost PricewaterhouseCoopers' consulting division to the rival IBM. If Hurd manages to close the deal HP would get more government contracts (EDS has better connections since its founder H. Ross Perot run for presidency). Rumor has it that the talks might come to an end today, so stay connected.

related story: http://news.yahoo.com/s/ap/20080512/ap_on_hi_te/hp_eds;_ylt=AnUczndgjvOp5kugG_9FRx.s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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