Hewlett-Packard Corp. (NYSE: HPQ) has announced that it will acquire systems integrator Atos Origin Middle East (AOME) so that it can serve the growing consulting and integration needs in that part of the world. Headquartered in the small Arab state of Bahrain, AOME employs more than 450 people in the Middle East and handles the area's largest SAP integrations. (SAP is a leading software development company based in Germany.)According to HP vice president Ken Willett, "the Middle East is one of our fastest-growing markets and this acquisition expands our ability to better service the needs of our customers." Nothing wrong with an acquisition in a fast-growing market, right? This move will multiply HP's business services in that Middle East region, including the region's extensive oil and gas segments.
In general, HP has made very wise moves in the acquisitions field in the last 24 months, and this one appears to be no different. Although financial terms were not disclosed, the deal is set to close in November pending approval by regulatory agencies in the area. HP is again proving itself wise here in the business software market as it ups the ante with leading business services integrator IBM Corp. (NYSE: IBM) and puts it quite a bit ahead of PC competitor Dell, Inc. (NASDAQ: DELL).
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
Tesla Roadster sets a record -- travels 313 miles on a single charge
