HP completes EDS buy

Hewlett-Packard Co. has closed its $13.9 billion purchase of integrator giant EDS Corp. as part of an effort to bring to market a powerful combination of technology products and services.

In the aftermath of the purchase, HP plans to use EDS' outsourcing muscle in various vertical markets, including financial services, government, health care, transportation and others.

HP plans to retain Ron Rittenmeyer, EDS' president and chief executive officer, as the head of the new business group.

Rittenmeyer's nine-person leadership team responsible for various functions and global regions includes eight executives from EDS and one from HP. The executives, and their responsibilities, are outlined in a HP news release.

HP also said its Technology Solutions Group will transfer its outsourcing services operations to the EDS group.

The company plans to hold a live video webcast of its Sept. 15 meeting with security analysts in which company CEO Mark Hurd and other executives will discuss its upcoming market opportunities.

HP, of Palo Alto, Calif., ranks No. 39 on Washington Technology's 2008 Top 100 list of the largest federal government prime contractors. EDS ranks No. 10.