The merger between Hewlett Packard Company and Compaq Computer Corporation is history, waiting only on certification of stockholder election results, but the merger’s impact on local branches of both companies remains unknown.
Locally, no one at either company would provide information to the Business Journal, but did provide numbers to corporate offices. At press time, only Compaq responded.
“Over the past several months, there has been a groundswell of support from customers, partners and shareholders who are favorable toward the merger as they examine its strategic rationale,” said Compaq Chairman and Chief Executive Officer Michael Capellas. “We continue to believe that this merger will rapidly accelerate our strategy, improve overall earnings power and provide increased value for customers, shareholders and employees. With the HP vote now behind us and the Compaq shareholder vote Wednesday, we are very close to making this merger a reality.”
What won’t be known until the vote is certified is how the merger will impact operations in Colorado, specifically in Colorado Springs, where most of Compaq’s 2,700 Colorado workers are employed.
“We’re not quite there (knowing about impacts),” said Compaq Spokesman Arch Currid, Houston. “Because Hewlett-Parkard is a Delaware corporation, the merger vote count must be made there.”
About 2,500 of Compaq’s 2,700 Colorado employees work in Colorado Springs.
While HP didn’t return telephone calls, HP Chairman and Chief Executive Officer Carly Fiorina posted the following statement on the company’s website: “Today, we’ve reached another important milestone in bringing these two companies together… we are pleased that the shareowners of Compaq have voted in support of the merger and the opportunity it presents to both increase shareowner value and advance the market position of the new HP in key areas important to our global customers.”