Menu
04/09/2001
Computer giants announce £17bn merger
Computer giants Hewlett-Packard and Compaq are set for a £17 billion merger in a deal that would create a company comparable to the size of rival industry giant IBM.
When combined, the second and third largest PC makers would overtake Dell computer as the number one PC maker in terms of sales.
Both companies have cut several thousand jobs in recent months with analysts predicting savage cutbacks yet to come.
With both companies' boards having approved the proposed stock swap, Compaq's chairman and chief executive Michael Capellas will become president. If the merger is approved by shareholders and regulators the new combined units would have annual earnings of nearly $4 billion, 145,000 employees and operations in more than 160 countries.
Hewlett-Packard and Compaq, which reported annual revenues of $47 billion and $40 billion respectively, have both seen sales decline drastically in the current industry downturn.
Falling sales have slashed the companies' market values. However, shares in technology companies around the world shot up following the news of the merger agreement. (MB)
When combined, the second and third largest PC makers would overtake Dell computer as the number one PC maker in terms of sales.
Both companies have cut several thousand jobs in recent months with analysts predicting savage cutbacks yet to come.
With both companies' boards having approved the proposed stock swap, Compaq's chairman and chief executive Michael Capellas will become president. If the merger is approved by shareholders and regulators the new combined units would have annual earnings of nearly $4 billion, 145,000 employees and operations in more than 160 countries.
Hewlett-Packard and Compaq, which reported annual revenues of $47 billion and $40 billion respectively, have both seen sales decline drastically in the current industry downturn.
Falling sales have slashed the companies' market values. However, shares in technology companies around the world shot up following the news of the merger agreement. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
14 February 2002
HP profit triples on back of consumer demand
Fuelled by strong consumer sector sales, computer giant Hewlett-Packard has seen profits for the first quarter triple to $484 million due to strong domestic printer and computer sales.
HP profit triples on back of consumer demand
Fuelled by strong consumer sector sales, computer giant Hewlett-Packard has seen profits for the first quarter triple to $484 million due to strong domestic printer and computer sales.
08 April 2002
HP seek dismissal of lawsuit impeding Compaq merger
Hewlett-Packard have filed for the dismissal of a case that could prevent the company from buying arch-rival Compaq. The lawsuit filed by Walter Hewlett, the son of one of Hewlett-Packard's founders, claims that the company have misled shareholders and has sought to influence the vote by coercing a major investor in the potential merger deal.
HP seek dismissal of lawsuit impeding Compaq merger
Hewlett-Packard have filed for the dismissal of a case that could prevent the company from buying arch-rival Compaq. The lawsuit filed by Walter Hewlett, the son of one of Hewlett-Packard's founders, claims that the company have misled shareholders and has sought to influence the vote by coercing a major investor in the potential merger deal.
30 January 2012
NI Businesses Urged To Avail Of Free IT Solutions
Businesses in Northern Ireland have been encouraged to take advantage of the significant cost-savings on offer through incorporating aspects of over 475,000 free open source software projects into their IT processes.
NI Businesses Urged To Avail Of Free IT Solutions
Businesses in Northern Ireland have been encouraged to take advantage of the significant cost-savings on offer through incorporating aspects of over 475,000 free open source software projects into their IT processes.
31 August 2001
Hitachi confirms global jobs cuts
Electronics manufacturer, Hitachi has confirmed it will slash its global workforce by 14,700. While some 4,500 of the job losses are likely to be take place outside Japan, the firm said that the cuts, which amount to more than four per cent of Hitachi's staff, will all be made before March next year.
Hitachi confirms global jobs cuts
Electronics manufacturer, Hitachi has confirmed it will slash its global workforce by 14,700. While some 4,500 of the job losses are likely to be take place outside Japan, the firm said that the cuts, which amount to more than four per cent of Hitachi's staff, will all be made before March next year.
31 January 2002
Catering College merger consultation launched
The Department for Employment and Learning has announced that the proposed merger of the Northern Ireland Hotel and Catering College (NIHCC) at Portrush with the University of Ulster (UU) is being put out for public consultation.
Catering College merger consultation launched
The Department for Employment and Learning has announced that the proposed merger of the Northern Ireland Hotel and Catering College (NIHCC) at Portrush with the University of Ulster (UU) is being put out for public consultation.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
