HP to acquire Electronic Data Systems for $13.9 billion

Hewlett-Packard has signed an agreement to purchase Electronic Data Systems for approximately $13.9 billion. With the acquisition, Hewlett-Packard said it expects to more than double its services revenue, which amounted to $16.6 billion in fiscal 2007. The companies' collective services businesses had annual revenues of more than $38 billion and 210,000 employees while doing business in more than 80 countries.