[nukkad] BREAKING NEWS: Hewlett-Packard to buy Compaq

["Net Geek" <>]

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Paul Brislen, Auckland IDGNet

Hewlett-Packard is set to buy Compaq to form the world's second largest PC 
manufacturer just behind IBM.

The deal, reported in the New York Times, is said to be worth $US25 billion 
and comes after both companies have announced worldwide layoffs.

The New York Times says HP's Carly Fiorina will become chairman and chief 
executive of the combined company while Michael Capellas, Compaq's chairman 
and chief executive, will become president. The new company will be based in 
Palo Alto, HP's home town.

Both companies have stressed their move to being service-based organisations 
in the last year or so as margins in the ever-tight PC manufacturing world 
get tighter.



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