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HP In Talks To Buy Plano's EDS

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May 12, 2008 3:03 pm US/Central

HP In Talks To Buy Plano's EDS

PLANO (AP) ― Hewlett-Packard is negotiating to buy Plano-based information technology services provider Electronic Data Systems in a deal that would expand the world's largest personal computer maker's reach in the corporate consulting market.

Palo Alto-based HP confirmed the discussions Monday after The Wall Street Journal's Web site reported a deal is in the works. Citing unnamed people familiar with the matter, The Journal said the sales price is expected to range between $12 billion and $13 billion.

HP said there's no assurance a deal will be consummated.

Buying Plano-based EDS would give HP more tools to compete against IBM in the lucrative field of technology consulting and customer support.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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