HP has officially purchased EDS to the tune of 13.9 billion dollars.  This deal has been rumored for some time, but we all knew it was just a matter of time when it was formally announced not long ago.  All that was left was for the wrinkled to be ironed out.  Now, with the approval of both companies’ boards, the deal will soon be finalized.  According to the article, this buyout breaks down to $25/share and is expected to be completed in the second half of 2008.

From NetworkNews:

The deal will greatly expand HP’s IT services business and catapult it to the number two spot close behind IBM, whose Global Technology Services division has long been a strong profit generator for the company… Buying EDS will grow HP’s services business and allow it to offer a wider range of services to attract large business customers. EDS is strong in infrastructure management services and also custom application services, where it helps companies to design, integrate and manage applications.