The Channel logo

News

By | Drew Cullen 1st October 2004 10:04

HP wraps up Synstar purchase

Done and almost dusted

HP is now officially the owner of Synstar, the UK-based IT services group. Today it revealed that it had bought up 92.1 per cent of Synstar shares; it expected to buy up the rest compulsorily by mid-November. It is shelling out £163m (US$293.3m) cash for the business.

HP gains 1,500 corporate customers across Western Europe and inherits 2,600 staff and offices in Ireland, Germany, Belgium, Luxembourg, The Netherlands, the UK and Spain.

HP made an agreed offer for disaster recover-to computer maintenance form in August. Earlier this month, the European Commission waved through the deal. The transaction will not significantly alter HP's share of the IT services market, the Commission ruled, noting the "significant number of global viable competitors as well as the large number of local or regional competitors that remain in the European market".

Francesco Serafini, HP general manager, Technology Solutions Group, EMEA, said Synstar is a "great fit with HP. We believe that the addition of Synstar's support and business continuity services will enhance our services capabilities across EMEA, and puts us in an even stronger position to compete in the European multi-vendor market. We look forward to driving forward as one business." ®

Related stories

IT services: don't forget the little guys
9/11 fails to influence disaster recovery strategies survey
ICL does not abuse mainframe maintenance
Computacenter 'preps £250m Synstar bid'

alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede
FBcoldstoragearray
Sorry OpenStack and Open Compute, we're not all Facebook
Gary Kovacs, CEO of AVG. Pic: World Economic Forum
Scammy download sites? Government snooping? Run of the mill for Gary Kovacs