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.

More in ComputerWorld Canada

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”

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

Featured Article

ADaPT connects employers with highly skilled young workers

Help wanted. That’s what many tech companies across Canada are saying, and research shows that as the demand for skilled workers...

Related Tech News

Tech Jobs

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

Tech Companies Hiring Right Now