HP's Purchase of EDS Gets EU Approval

 
 
By Reuters -  |  Posted 2008-07-28 Email Print this article Print
 
 
 
 
 
 
 

In an effort to compete with IBM in global technology services, Hewlett-Packard gains approval from the European Union to purchase technology outsourcing company EDS for $12.6 billion.

BRUSSELS, July 25 (Reuters) - Hewlett-Packard won permission from European Union competition regulators on Friday to buy technology outsourcing company Electronic Data Systems Corp for $12.6 billion.

The deal is aimed at helping HP compete better against IBM in the global technology services industry, and vaults HP to second place behind IBM. EDS is a pioneer of the outsourcing of managed computer services.

"The Commission concluded that the concentration is unlikely to raise competition concerns," said a statement from the European Commission, the EU's executive arm.

The deal won approval from U.S. government antitrust authorities on June 30.

(Writing by David Lawsky, editing by Darren Ennis)

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