HP Expands Business Intelligence Services Capabilities with Acquisition of Knightsbridge Solutions

PALO ALTO, Calif., Dec. 12, 2006 - HP today announced that it has signed a definitive agreement to acquire Knightsbridge Solutions Holdings Corp., a services company specializing in the information management areas of business intelligence, data warehousing, data integration and information quality.

Headquartered in Chicago, Knightsbridge has 700 employees, with offices across the United States and in London, and a focus on Fortune 500 customers and their global divisions. Financial terms of the transaction were not disclosed.

“Recognized for excellence and innovation, Knightsbridge advances HP’s leadership position in delivering business intelligence and data warehouse solutions,” said John W. McCain, senior vice president and general manager, HP Services. “Together, the two companies provide our customers with a world-class portfolio of information management solutions.”

“Combining Knightsbridge with HP represents a huge advantage for our collective customers and partners,” said Roderick S. Walker, president and chief executive officer, Knightsbridge Solutions. “By combining our business intelligence expertise with HP Services, we believe we can deliver more complete end-to-end information management services for our clients than either firm could have accomplished on its own.”

The transaction is subject to certain closing conditions and is expected to be completed within approximately 30 days. Following completion, the business will be fully integrated into HP Services within HP’s Technology Solutions Group.

About Knightsbridge Solutions

Knightsbridge is a leading professional services consultancy focused exclusively on the information management disciplines of business intelligence, data warehousing, data integration and information quality. Large or data-centric organizations turn to Knightsbridge for their most difficult data problems – problems rooted in massive data volumes or complex information challenges. Knightsbridge delivers actionable and measurable business results that inform decision-making, optimize IT efficiency and improve business performance.

Visit Knightsbridge online at www.knightsbridge.com.

About HP

HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Oct. 31, 2006, HP revenue totaled $91.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; risks related to the timing or ultimate completion of the transaction; and other risks that are described from time to time in HP’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2006, and other reports filed after HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2005. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2006 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.

Contact Information

Press Hotline

HP

Contact via E-mail