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EU clears HP purchase of EDS

The European Commission concludes purchase will not stifle services industry

Written by Rosalie Marshall

IT Week, 28 Jul 2008

The European Commission has approved HP's proposed £7bn acquisition of IT services giant EDS.

The deal will help HP establish a services arm to rival IBM's Global Services division – and the presence of such formidable competitors helped EC competition regulators to conclude that the acquisition should be allowed to proceed.

“In the IT services sector there are a large number of global and regional competitors capable of exercising competitive constraints on the merged company,” the EC said in a statement.

HP first reached an agreement to acquire EDS for £6.98 billion in May this year. EDS's shareholders will vote on the proposed deal on 31 July.

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