10 Biggest Tech Acquisitions in History

5. HP buys Electronic Data Systems – $13.9 billion

In 2008 HP was proudly announcing its $13.9 billion purchase of Electronic Data Systems (EDS). The purpose of the acquisition was to expand HP’s services business and to push it higher in the race against the likes of IBM.

EDS was founded in 1962 and it was one of the pioneers in the industry, playing the role of IT department for many companies at the time. It slowly expanded, offering support to banks, insurance services, credit unions, medical systems, payment services between travel agents and airlines and so on. In 1984, EDS was acquired by General Motors for $2.5 billion and with its help it expanded internationally and entered more IT areas.

By 2008, when HP acquired EDS, the company had a massive international presence and employed close to 140,000 people. In the four years following the purchase, however, EDS’ value dropped considerably, making HP announce that it was writing off about $8 billion.