HP buying Compaq for $25 billion

— 1:10 AM on September 4, 2001

First they sold off Alpha, and now they're selling off the whole rest of the company. In the biggest mega-blockbuster industry deal since I can remember, HP is going to buy Compaq for $25 billion. You could buy an entire house of Congress for that kind of money. From the CNET report:

The deal, one of the largest in technology history, would merge two of the biggest names in computers, printers and computer servers, and would have total revenue only slightly less than IBM, the largest computer company.

Carleton Fiorina, the chairman and chief executive of HP, will become the new company's chairman and CEO, while Compaq's Chairman and CEO Michael Capellas will become president of the new entity. Capellas and four other Compaq board members will join HP's board.

Looks like consolidation is the name of the game in the PC market, which looks more "mature" by the minute.
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