HP eyes-up EDS for a potential billion dollar deal

By

Hewlett-Packard has confirmed that it is in advanced talks to acquire global IT services company Electronic Data Systems (EDS) in a deal worth billions of dollars.

HP eyes-up EDS for a potential billion dollar deal
HP said in a statement it was engaged in advanced discussions with EDS regarding a possible deal for the firm.

However the vendor stated: “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.”

US-based EDS’ core portfolio comprises information-technology, applications and business process services, as well as IT transformation services.

In April, EDS reported, in its first quarter 2008 financial results, the company’s revenue increased three percent to US$5.37 billion from US$5.22 billion in the year-ago first quarter. EDS signed US$5.6 billion in contracts in the first quarter of 2008, up 66 percent from US$3.4 billion in the same quarter in 2007. EDS' twelve US$100 million-plus contract signings were the most it has signed in any quarter since 2002.

According to EDS its first quarter earnings for the Asia-Pacific region was US$522 million, up nine percent compared to the prior-year period, due primarily to growth from MphasiS. Operating profit for the same region was US$53 million, up 14 percent from US$47 million in the prior-year period, driven primarily by improved contract performance.
Got a news tip for our journalists? Share it with us anonymously here.
Tags:

Most Read Articles

ANZ Institutional readies go-live for "multi-agent chatbot" amie

ANZ Institutional readies go-live for "multi-agent chatbot" amie

Westpac pilots AI to analyse inbound call content

Westpac pilots AI to analyse inbound call content

Westpac hires CBA's data chief to lead AI, data and digital

Westpac hires CBA's data chief to lead AI, data and digital

ANZ explores agentic AI opportunities

ANZ explores agentic AI opportunities

Log In

  |  Forgot your password?