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May 12, 2008 1:50 pm US/Pacific

HP Nearing Deal To Buy EDS For More Than $12B

 HPQ: Latest Quote & News

PALO ALTO (AP) ― Personal computer and printer maker Hewlett-Packard reportedly is nearing a deal to buy information technology services provider Electronic Data Systems for between $12 billion and $13 billion.

The Wall Street Journal reported the talks Monday on its Web site. The newspaper said the acquisition could be announced as early as Tuesday, citing unnamed people familiar with the matter.

HP spokesman Ryan Donovan declined to comment Monday. Plano, Texas-based EDS didn't immediately respond to messages.

Buying EDS would give Palo Alto-based HP more tools to compete against IBM in the lucrative field of technology consulting and customer support.

(© 2008 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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