Compaq has 250 employees in Israel, and is considering additional acquisitions in order to penetrate new markets.
Compaq Computer International (NYSE: CPQ) has decided to establish an outsourcing services subsidiary in Israel. The company, which will be fully owned by Compaq, will be called Outsourcing and Managed Services (OMS). The subsidiary will manage computer resources for various organizations. Compaq Israel has 250 employees, and is considering additional acquisitions in order to penetrate new markets.
Compaq International chairman and CEO Michael Capellas declared the company wished to derive a third of its revenue from services by 2004. OMS will be responsible for outsourcing services, while Compaq Israel will retain support and systems integration in Israel.
The decision to set up the new subsidiary was backed by Compaq International after the merger between Compaq and Hewlett Packard (NYSE: HWP) was announced, and received all the necessary approvals.
Published by Israel's Business Arena on April 7, 2002