Home Archives June 2008 HP buys EDS for $13.2B

HP buys EDS for $13.2B

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Sunday, June 01, 2008

CORVALLIS In mid-May, as rumors swirled regarding major job cuts at its Corvallis campus, Hewlett-Packard dropped $13.2 billion in cash for Texas-based tech-services provider Electronic Data Systems. Oregonians may remember EDS — last November the company bought Portland-based Saber Corp. for $420 million. HP’s acquisition puts the company in a more competitive position with rival IBM in the estimated $550 billion corporate tech-services market.

What it means for its employees is unknown. HP has already cut thousands of jobs in Corvallis (birthplace of its famed inkjet technology) and Vancouver in recent years.  According to HP spokeswoman Emma McCulloch, it will be several months until integration plans for the companies are finalized and any changes are announced.




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