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GALLERY: Hewlett Packard

On May 13, 2008, HP and Electronic Data Systems (EDS) announced that they had signed a definitive agreement under which HP would purchase EDS. On June 30, HP announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had expired. "The transaction still requires EDS stockholder approval and regulatory clearance from the European Commission and other non-U. S. jurisdictions and is subject to the satisfaction or waiver of the other closing conditions specified in the merger agreement. " The agreement was finalized on August 26, 2008 at $13 billion, and it was publicly announced that EDS would be re-branded "EDS a HP company. " The first targeted layoff of 24,600 former EDS workers was announced on September 15, 2008. (The company's 2008 Annual Report gave the number as 24,700, to be completed by end of 2009. ) This round was factored into purchase price as a $19. 5 billion liability against goodwill. As of September 23, 2009, EDS is known as HP Enterprise Services.

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