By: Leslie Shedd, CARLY for America National Press Secretary
November 18, 2015
The HP-Compaq merger was the largest technology merger in US history at the time – and boy did it pay off. Not only did it help to save HP from the recession that forced other top tech companies like Sun Microsystem and Gateway to close their doors, it made HP the largest PC maker in the world by 2007.
FACT: The HP-Compaq merger revitalized HP, making it the worlds’ largest PC maker by units sold and the first $100 billion tech company.
FACT: Current HP CEO Meg Whitman has said the server and PC business strengthened by the Compaq merger “are the bedrock” of HP now. Upon reflection, Whitman said, “I think the Compaq acquisition was the right thing.”
FACT: HP’s server segment created by the Compaq merger is one of the only profitable aspects of HP now.
CEO of White Glove Technologies Tommy Wald: “You look back now, and Carly was right – there was a lot of synergy between the two companies. The merger worked out well in retrospect. I think they turned the combined company into a strong channel company, which is what we were all concerned about as partners.”
Former HP Board Member Tom Perkins: “The merger was a brilliant move. Look where HP is now: the biggest computer company in the world.”
Former HP Employee Phil Rieger: “The HP-Compaq merger was a step into the future: it brought in an expanding section – personal computers – to HP that allowed the new company to grow and evolve…The decision made by Carly to buy Compaq was one that was for the good of both companies, and it set HP on a path to become the largest technology company in the world.”
Former HP Employee Bob Haefner: “Because of Carly’s handling of the merger, Hewlett-Packard was able to weather a long storm within the tech industry.”