BUSINESS BRIEF

Hewlett-Packard Buys Synstar

HP has confirmed that it is planning to acquire UK services firm Synstar in a deal believed to be valued at around US$160 million.

HP says Merrill Lynch has made an offer on its behalf to acquire the entire issued and to-be-issued capital of Synstar.

If the purchase is approved by shareholders and regulators, HP will be able to boost its European services arm, allowing it to more effectively compete with rivals such as IBM and EDS.

Synstar has around 1,500 customers and a direct presence in eight European countries.

Synstar specializes in managing IT infrastructures, across desktop infrastructures and data center environments, as well as designing and implementing IT risk-management strategies.

Reports at the weekend speculated that Synstar would likely be merged into HP’s technology solutions group, if the deal gets the green light.

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