HP Acquires Atos Origin Middle East Group to Broaden Systems Integration Business

HP today announced that it has signed a definitive agreement to acquire the Atos Origin Middle East group (AOME),⁽¹⁾ one of the Middle East’s leading systems integrators, to broaden its consulting and integration capacity in the region.

AOME, an independent group of companies headquartered in Bahrain, employs more than 450 people primarily in its offices in Saudi Arabia, Bahrain, the United Arab Emirates, Qatar and Libya, and is the region’s leading implementer of SAP projects.

“The Middle East is one of our fastest growing markets and this acquisition expands our ability to better service the needs of our customers,” said Ken Willett, vice president and managing director, Middle East, Mediterranean and Africa, HP. “In addition, AOME’s proven ability to design, deploy and support large-scale enterprise resource planning systems based on SAP will help us capitalize on this fast-growing market. “

The acquisition is expected to deliver three key strategic assets to HP: enhancement of the company’s SAP capabilities in the Middle East; reinforcement of HP’s expertise in two key market segments – the public sector and oil and gas; and, the extension of HP’s geographic presence into Libya and Qatar.

“This is an exciting day for all of us at AOME. Joining HP’s professional services team gives AOME the ability to be globally supported technically, gives us the financial strength to be able to better support our clients, and allows us to compete for large infrastructure projects in the region,” said Ferras Zalt, chief executive officer, AOME. “AOME’s consulting skills with HP’s global reach and knowledge will help our clients in the region meet their business challenges.”

The acquisition is subject to certain customary closing conditions. The transaction is expected to be completed in November.

About AOME

AOME is a leading systems integrator in the Middle East. Its consulting and system integration capabilities include design, development and delivery of mission-critical application packages, application development, integration with backend legacy systems, issuance and management of secure digital identity systems.  System integration services cover the full range of design, set-up, customization, training and development. In the field of managed operations, the company offers IT and application management.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $100.5 billion for the four fiscal quarters ended July 31, 2007. More information about HP (NYSE: HPQ) is available at www.hp.com.

About HP Middle East

HP is the largest technology and solutions provider in the Middle East with 670 employees and subsidiaries in Dubai, Abu Dhabi, Riyadh, Khobar, Cairo, Ramallah, Oman and 2 service Joint Ventures in Kuwait and Bahrain servicing the GCC, Egypt and the Levant. HP has been present in the Middle East since 1968 and opened its first regional office in 1994. HP Middle East is the market leader for enterprise, small and medium business and consumer technology products and offers a large portfolio of solutions and services in various business domains.

More information about HP in the Middle East is available at www.hp.com/me

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⁽¹⁾ The Atos Origin Middle East group is a privately held independent group of companies composed of the following entities: Atos Origin Middle East Ltd. (Saudi Arabia); Atos Origin Middle East SAS; AOME Holdings ltd.; Escador GmbH; Aptitude Management Consulting WLL and Atos Origin Middle East FZ-LLC.

 

SAP is a registered trademark of SAP AG.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2007 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006. HP assumes no obligation and does not intend to update these forward-looking statements.