EU blesses HP-Synstar marriage

By : |September 10, 2004 0

BRUSSELS: U.S. computer giant Hewlett-Packard won permission from the European Commission to purchase IT services company, Synstar of Britain for 163 million pounds.

“The analysis of the transaction has shown that HP’s share of the IT services market will not be significantly altered and the consumers will continue to benefit from sufficient choice in the sector,” the Commission said in a statement.

The proposed purchase is the latest step by Hewlett-Packard to ramp up its presence in the competitive technology services sector where it competes with rival giant International Business Machines Corp. and Electronic Data Systems Corp.

According to recent data from research firm Gartner Inc, HP ranked fifth in the global line up of IT services firms in 2003, behind IBM, EDS, Fujitsu Ltd and Computer Sciences Corp.

Synstar, based in Bracknell in southern England, provides technology services ranging from basic software support to restoring IT networks at its recovery centres. The shares reached highs of 250 pence during the dotcom boom.

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