Saturday, August 20, 2022

EDS shareholders approve sale to HP

EDS announced today a majority of its shareholders voted in favour of a merger with Hewlett-Packard Co.

If the US$13.9 billion deal, signed in May, is approved by regulators, Plano, Tex.-based EDS would become a wholly-owned subsidiary of HP. The companies expect the deal to close during the third quarter of 2008.

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Potential job cuts at EDS Canada: IDC

The agreement has been approved by both companies’ boards, the European Commission and American regulators. EDS said Thursday the transaction still requires approval from “certain non-U.S. and non-E.U. jurisdictions, and is subject to the satisfaction or waiver of the other closing conditions specified in the Agreement and Plan of Merger.”

At the time the deal was announced in May, HP predicted it will more than double its services revenue, and EDS’s CEO, Ron Rittenmeyer, said: “In terms of job cuts, we are continuing to streamline our workforce at EDS and we’ve been doing this for some time”

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Jim Love, Chief Content Officer, IT World Canada

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