HP to Buy EDS for $13.9 Billion

Elizabeth Heichler, IDG News Service

Tuesday, May 13, 2008 5:00 AM PDT

HP said Tuesday morning that it has signed a deal to acquire IT outsourcer EDS for US$13.9 billion, or $25.00 per share.

The deal has been approved by both companies' boards of directors, and is expected to close in the second half of this year.

HP said it will more than double its services revenue.

(more to follow)

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