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HP

HP to buy EDS for $13.9 billion

May
13

Hewlett-Packard today announced a definitive agreement to purchase Texas-based Electronic Data Systems for $13.9 billion, in a deal that could bolster the high-tech giant's efforts to compete with IBM in the fast-growing market for technology consulting services.

The acquisition will more than double HP's business providing services to corporate and government clients, according to CEO Mark Hurd, who said it will make HP "a leading force in the global IT industry."

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