The transaction is expected to close in the second half of calendar year 2008 and more than double HP's services revenue, which amounted to $16.6 billion in fiscal 2007.
The companies' collective services businesses, as of the end of each company's 2007 fiscal year, had annual revenues of more than $38 billion and 210,000 employees, doing business in more than 80 countries, HP said in a release today.
HP intends to establish a new business group, to be branded EDS - an HP company, which will be headquartered at EDS's existing executive offices in Plano, Texas.