Kennen jullie deze druk geforwarde, uitgelekte mail al? Beetje lang maar ik post hem toch omdat hij wel interessant is:
> > -----Original Message-----
> > From: Chairman & CEO - Michael D. Capellas
> > Sent: Tuesday, September 04, 2001 3:36 AM
> > Subject: Merger between Compaq and HP
> >
> > To: Compaq Global Team
> >
> >
> > Compaq and Hewlett-Packard announced today that we have signed a
> > definitive agreement to merge our two companies into an $87 billion global
> > technology leader. The combined company will offer the industry's most
> > complete range of IT products and services for businesses and consumers
> > based on open, market-unifying standards and architectures.
> >
> > I know this comes as a big surprise. In fact, surprise is probably an
> > understatement. But once you understand the strategic logic, the promise
> > and the opportunity of this combination become very clear and very
> > compelling.
> >
> > This is an historic moment for Compaq, for our customers and for the
> > industry. We have a unique opportunity to build an IT powerhouse with an
> > unrivaled capacity to create customer value. That's what we mean when we
> > talk about our vision - to be the industry's leading IT solutions
> > provider. It's what we mean when we talk about our mission - to deliver
> > superior customer value through innovative products, integrated into
> > solutions and delivered globally. And, it's what we mean when we talk
> > about our commitment to customer success.
> >
> > Our strategy has not changed. But our ability to deliver on that strategy
> > - to make our aspirations a reality - will be greater than ever in the new
> > company.
> >
> > By marrying HP's "Invent" with Compaq's "Inspiration Technology" we will
> > build a true innovation machine. We will define the technologies and
> > solutions that transform the business and personal experiences of our
> > customers - from fault tolerant servers at the high end, to powerful UNIX
> > servers in the data center, to industry standard servers delivering
> > content and Web services at the edge of the network. We will drive a new
> > generation of innovative access devices and increasingly intelligent
> > printing and imaging systems. And we will provide the services to plan,
> > design, implement and manage the whole complex.
> >
> > Behind the merger
> >
> > The decision to merge was the result of serious discussion and rigorous
> > strategic analysis during the past three months by the Compaq board of
> > directors and the management team. Collectively, this was the only
> > combination we considered because it made complete strategic and cultural
> > sense.
> >
> > During our talks, it became clear to me and to Carly Fiorina, HP's
> > Chairman and CEO, that our two companies have the perfect blend of
> > complementary strengths. We share a vision of how the market and customer
> > needs are evolving. And, we have a common commitment to deliver
> > integrated solutions, open systems and architecture, and the broadest
> > portfolio of products and services.
> >
> > The new company will have No. 1 worldwide positions in servers, access
> > devices and printing and imaging, as well as leading positions in IT
> > services, storage and management software. We will have leadership across
> > the key IT markets - enterprise, small and medium business and consumers.
> > And, thanks to the strong teams on both sides, we will have a deep and
> > experienced management team.
> >
> > But this is about more than product and service strengths. It is also
> > about the complementary strengths of our cultures - a common commitment
> > to:
> > * Invention and innovation
> > * Community service and corporate responsibility
> > * Trust, respect, integrity and opportunity for employees
> > * Customer success, and
> > * Shareholder value
> >
> > On every important score - customers, partners, shareholders and employees
> > - this is a compelling combination that will create greater value and new
> > opportunities for growth.
> >
> > Innovation and engineering
> >
> > I am particularly excited about our shared commitment to technology
> > innovation and engineering excellence and what that means for our future
> > together.
> >
> > Hewlett-Packard was started by two inventive engineers in a now-famous
> > (and still-standing) garage in Palo Alto, California in 1939. Compaq was
> > born in a House of Pies restaurant in Houston in 1982, where a group of
> > inspired engineers designed the company's first product on a placemat. In
> > the ensuing years, we established ourselves as two of the most innovative
> > companies in the industry.
> >
> > Sometime in the first half of 2002 - pending the approval of government
> > regulators and shareholders - we will become one company with the
> > opportunity to change the competitive landscape in our industry.
> >
> > Merger agreement
> >
> > Under the terms of the agreement, Compaq shareholders will receive 0.6325
> > shares of newly issued HP shares for each share they own. The merger is
> > valued at approximately $25 billion.
> >
> > When the merger is completed, the new company will operate under the
> > Hewlett-Packard name. Carly will be Chairman and CEO. I will be
> > President, with responsibility for the company's four operating units:
> > Printing and Imaging, Access Devices, Infrastructure, and Services. The
> > board of directors will be made up of eight HP directors and five Compaq
> > directors.
> >
> > I have come to know Carly during the past 18 months as we worked together
> > on a number of issues. I respect her leadership skills, her vision and
> > her competitive fire. Like me, she hates to lose. I have every
> > confidence that we will form a great partnership focused on a single
> > objective - the success of the combined company.
> >
> > I am also very confident that our management team will be well represented
> > in the new company. Carly and I agreed that this depth of management was
> > one of the major strategic elements of this deal.
> >
> > You can find additional facts about the merger - as well as a copy of the
> > press release and a Q&A - on Inline at
> >
http://inline.compaq.com/hr/eecomm/fbt/index. asp .
> >
> > Integration
> >
> > Clearly you can expect some changes as a result of this merger. The
> > headquarters of the combined company will be in Palo Alto, California.
> > The company will retain a significant presence in Houston, which will be
> > the key strategic center of engineering excellence and product development
> > for our industry standard server and other Intel-based businesses.
> >
> > One of the clear advantages of the merger is the financial leverage it
> > provides through consolidation and economies of scale. We expect to be
> > able to realize $2.5 billion in annualized cost savings by mid-2004. This
> > will include approximately 15,000 job reductions, or about 10% of the
> > company's combined work force of more than 145,000. Those reductions will
> > be phased in during the 12 to 24 months after the deal closes through
> > targeted job reductions and attrition. Both companies will be affected.
> >
> > We already have a comprehensive integration plan and an integration team
> > led by two senior executives: Jeff Clarke, Compaq's CFO, and Webb
> > McKinney, President of HP's Business Customer Organization. Key early
> > decisions - including the top-level members of the new company's
> > management team - have already been made. We believe we have the
> > management talent and focus to balance successfully the complexities of
> > the integration and the demands of our business operations. One of our
> > top priorities is to make the integration as transparent as possible to
> > our customers.
> >
> > Why merge?
> >
> > I know that you have a lot of questions. Some we will be able to answer
> > right away and some we won't. But I know that one major question is this
> > one:
> > We've been making a lot of progress in becoming an enterprise company, so
> > why merge with HP? Why not give us more time to execute our strategy?
> >
> > We have made significant progress in establishing Compaq as an enterprise
> > company. We get more than 50% of our revenue from our server, storage and
> > services business. Our fastest growing businesses have been industry
> > standard servers, enterprise storage and services. And we're winning
> > major enterprise business across the world.
> >
> > But we have two significant gaps in our portfolio that make it difficult
> > for us to be truly recognized as a major player in the enterprise. One is
> > a leadership position in data center UNIX. On the plus side, we're
> > competitive in some key segments of the UNIX market. Tru64 UNIX is a
> > technical leader, and we've been gaining market share. But our overall
> > position is not broad enough, particularly in the data center.
> >
> > HP, on the other hand, is No. 2 in the UNIX market and an acknowledged
> > leader in the data center. Together, we will close the gap with the
> > current market leader, Sun, and create new opportunities to grow our UNIX
> > business.
> >
> > The second key ingredient we are missing is a leading set of open
> > application integration tools to support interoperability. HP's OpenView
> > software suite is an industry leader for Internet-based system and network
> > management and interoperability. That is a vital part of our ability to
> > integrate solutions across the enterprise.
> >
> > By merging with HP we are closing those gaps - and HP closes some gaps of
> > its own, including its competitive positions in industry standard servers
> > and commercial PCs.
> >
> > There's a third important element as well. We will achieve a critical
> > mass in services. Together we will have a $15 billion services business -
> > the third largest in the IT industry. We will have significant strength
> > in customer support, outsourcing, system and network integration, and
> > vertical markets. This will make us an even more competitive solutions
> > company with a unique value proposition for our customers.
> >
> > But the most powerful combination of all is our people. I am very
> > confident in the talent, engineering excellence and global sales expertise
> > in the combined company. I believe we will have the best management team
> > in the industry, and I can assure you that it will be a team that blends
> > the best of both companies.
> >
> > I also want to emphasize that until the merger closes early next year, we
> > will continue to compete as vigorously with HP as we do with our other
> > competitors. We have obligations to our customers, partners and
> > shareholders - and to each other - and we need to stay focused on meeting
> > the business and financial goals we have set. As I said before, this
> > includes moving forward with our strategy to extend our world-class
> > technology with a greater focus on services and solutions.
> >
> > Most important of all, we need to stay close to our customers and
> > partners. We need to meet and exceed their expectations today. And we
> > need to help them understand how this merger will result in even greater
> > value for them in the future.
> >
> > Conclusion
> >
> > I know this is not an easy decision for many of you to accept. I have
> > been working through this for the past nine weeks, and I couldn't be more
> > excited about the future of these two great companies. But I understand
> > that you will go through the same range of emotions that I have been
> > through - emotions rooted in our personal identification with this
> > company, its name and its history.
> >
> > I encourage you to read the material that we have made available on Inline
> > to understand the strategic rationale for this merger. We will continue
> > to communicate on the progress of the merger and answer the many important
> > questions that you have.
> >
> > I am confident you will see that this is indeed a powerful combination - a
> > combination that builds on our success and on the contributions that
> > Compaq's people have made during the past 19 plus years, and even further
> > back with our Digital and Tandem heritage. It is a combination that will
> > make us stronger . . . that will create new opportunities for business and
> > personal growth . . . and that will define the industry.
> >
> > I was talking with Ben Rosen the other day, and we were reminiscing about
> > Compaq's founding - how it was built on an open platform that allowed it
> > to compete with IBM - and win - by being better and cheaper. Well, we're
> > going to do it again. The future is in our hands.
> >
> > Michael
> >
edit:
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