HP Buys German Company

Feb 23, 2004 (09:02 AM EST)

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BERLIN (AP) -- Hewlett-Packard Co. said Monday it agreed to buy Triaton, a German information technology company, from steelmaker ThyssenKrupp for an undisclosed sum.

The acquisition, subject to regulatory approval, will strengthen Hewlett-Packard's information technology services and its market presence in Germany and the rest of the world, the U.S.-based computer and technology giant said in a statement.

Triaton, based in the west German city of Krefeld, has about 2,200 employees and annual sales of about 370 million euros ($465 million.)

Palo Alto, Calif.-based Hewlett-Packard, with 140,000 employees and sales of $73.1 billion worldwide, has 7,500 employees in Germany and generated sales of 5.1 billion euros ($6.4 billion) in Germany in 2002.