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Hewlett-Packard Bill Hewlett and Dave Packard both graduated from Stanford University in 1935 with a degree in electrical engineering (Malone, 2007). In 1939, Packard and Hewlett established Hewlett-Packard (HP) in Packard's one-car garage in Palo Alto with an initial capital investment of US$538 (HP Rebuilding HP's Garage, 2010). Hewlett and Packard tossed a coin to decide whether the company they founded would be called Hewlett-Packard or Packard-Hewlett (HP Interactive Timeline, 2010). Packard won the coin toss but decided to name their electronics manufacturing enterprise the "Hewlett-Packard Company". HP incorporated on August 18, 1947, and went public on November 6, 1957. Hewlett-Packard Company (HP) is an American multinational information technology corporation headquartered in Palo Alto, California, USA. It is one of the world's largest information technology companies, serving more than one billion customers in over 170 countries on six continents (HP Fast Facts, 2010).
In 2008 HP retained its global leadership position (#1) in inkjet, laser, large format and multi-function printers market, and its leadership position in the hardware industry (Verberne, 2010). However, over the years, there have been some major company changes, which include a spin-off of part of its business as Agilent Technologies in 1999, its merger with Compaq in 2002, and the acquisition of EDS in 2008, which led to combined revenues of $118.4 billion in 2008 and a Fortune 500 ranking of 10 in 2010 (HP Fast Facts, 2010). In November 2009, HP announced the acquisition of 3Com (this increased HP's number of employees to approximately 304,000); with the deal closing on April 12, 2010 (HP News Release, 2010). On April 28, 2010, HP announced the buyout of Palm for $1.2 billion.
(2010). HP Fast Facts [Online] Available:http://www8.hp.com/us/en/hp-information/facts.html [11 October 2010] HP (2006). Annual Report [Online] Available:http://media.corporate-ir.net/media_files/irol/71/71087/pdf/HP_2006AR.pdf [11 October 2010] Scandell, E. (2007). The Race to $100 Billion [Online] Available: http://redmondmag.com/articles/2007/05/17/the-race-to-100-billion.aspx [11 October 2010] Verberne, B. (2010). Hardware Top 100: The World's Largest Hardware Companies [Online] Available: http://www.hardwaretop100.org/hardware-top-100-the-world-s-largest-hardware-companies.php [11 October 2010] Hewlett-Packard Development Company, L.P. (2010). News Release [Online] Available: http://www.hp.com/hpinfo/newsroom/press/2010/100412xa.html [11 October 2010] Guglielmo, C. King, I. and Ricadela, A. (2010). HP Chief Executive Hurd Resigns After Sexual-Harassment Probe [Online] Available: http://www.businessweek.com/news/2010-08-07/hp-chief-executive-hurd-resigns-after-sexual-harassment-probe.html [11 October 2010] Hewlett-Packard Development Company, L.P. (2010). Léo Apotheker Named CEO and President of HP [Online] Available: http://www8.hp.com/us/en/hp-news/article_detail.html?compURI=tcm:245-764694-16 [11 October 2010] Malone, M.S. (2007). Bill & Dave: How Hewlett and Packard Built the World's Greatest Company. USA: Portfolio, Inc., pp. 39-41. Hewlett-Packard Development Company, L.P. (2010). Rebuilding HP's Garage [Online] Available: http://www.hp.com/hpinfo/abouthp/histnfacts/garage/ [11 October 2010] Hewlett-Packard Development Company, L.P. (2010). HP Interactive Timeline [Online] Available: http://www.hp.com/hpinfo/abouthp/histnfacts/timeline/ [11 October 2010] ?? ?? ?? ??
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