November 5, 2003

HP Seeking European IT Acquisitions

Chuck Talk writes "According to CBS Marketwatch, Hewlett Packard had reportedly instructed the Financial Times Deutschland to scout for European Information Technology sector takeover targets. Since the announcement yesterday of the takeover of SuSE Linux by Novell for $210 Million US Dollars that included a $50 Million US Dollar investment from IBM, it can be surmised that Hewlett Packard are seeking something similarly attractive to add to their portfolio to keep their competitive edge with IBM.

This announcement from the Financial Times Deutschland will be seen as an announcement of potential investment by the US hardware and software company as it seeks to remain competitive against its largest rival. This will also tend to have the effect of increasing competitiveness within the marketplace, which should be good for consumers and businesses alike.

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