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HP signs $3 b tech contract with P&G

NEW YORK APRIL 11. Hewlett-Packard Co. on Friday said that it signed a $3 billion, ten-year deal to manage the technology operations for U.S. consumer goods giant Procter & Gamble.

Hewlett-Packard will manage Procter & Gamble's entire computing and network operations, including its data centres, desktop computers, software programs, and help desk facilities the companies said in a statement.

As part of the deal, about 1,850 Procter & Gamble employees from 50 countries will become HP employees. The companies said they expect to reach a definitive agreement in mid-May 2003.

Hewlett-Packard competes in the computer services and consulting sector against International Business Machines Corp. and Electronic Data Systems Corp., among others.

EDS had previously been shortlisted for the Procter & Gamble contract, but those talks fell apart after EDS issued a massive profit warning in the third quarter of 2002.

— Reuters

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