Hewlett-Packard confirms Compaq merger

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The Independent Online

One of the most famous names in technology, computer giant Hewlett-Packard, has confirmed it is buying Compaq Computer for an estimated 25 billion dollars.

From their humble beginnings in a garage in Silicon Valley, the company's founders Hewlett and Packard have grown their organisation into a major player in the international market.

The deal is meant to bolster two companies that have suffered recently with the down turn of the technology sector. Both companies have suffered sagging profits and massive job cuts over the last year.