HP in talks to acquire EDS for $13 billion

Electronic Data Systems (EDS) has been in talks with Hewlett Packard (HP) to be acquired for $12-13 billion.  EDS was founded on June 27th, 1962 in Plano, Texas.  Their revenue for the 2006 year was $21.3 billion and have 136,000 employee’s.  EDS has a wide range of services broken up into three service portfolio’s which are Infrastructure, Applications, and Business Process Outsourcing.  This acquisition will better place HP to go head-to-head with IBM.  If the acquisition is to go through, it will be HP’s largest acquisition since the $19 billion buy-out for Compaq Computer in May 2002.  EDS shares surged as much as 28% while HP’s shares fell 5.7% when the buyout was first reported minutes ago.  Marketwatch.com reports.