Decision Summary - Hewlett-Packard Company

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background to the Investment
On 13 May 2008, Hewlett-Packard Company (Hewlett-Packard) and Electronic Data Systems Corporation (EDS) announced that they had signed a merger agreement pursuant to which Hewlett-Packard will acquire all of the issued share capital in EDS.

Hewlett-Packard is among the world's largest technology companies with business groups in core technology areas including Personal Systems, Imaging and Printing and Technology Solutions. EDS is a leading global technology services company delivering business solutions to its clients.

Outline of the Investment
As a result of the acquisition of EDS, Hewlett-Packard will acquire an interest in the New Zealand business and assets of EDS conducted by EDS (New Zealand) Limited (EDS NZ) and its subsidiaries.

Rationale for the Investment
The proposed investment is a strategic investment to develop Hewlett-Packard's capabilities as a services provider particularly in outsourcing services.