Happy finish to HP's £163m Synstar purchase

HP has finally signed on the dotted line and completed its acquisition of UK IT services company Synstar for £163m.

HP has so far snapped up just over 92 per cent of Synstar's shares and should have the rest in the bag by the middle of next month.

The deal has been in the works for since August when HP made its intentions clear and Synstar's board recommended shareholders accept the deal.

Synstar has over 2,000 employees and operates in several European countries, including Ireland, Germany, Spain and the UK and has around 1,500 customers, including the Alliance and Leicester and Laura Ashley.

Synstar specialise in support services and business continuity and HP's purchase of the firm will bolster its presence in the European multi-vendor market, according to Francesco Serafini, EMEA senior VP of HP's Technology Solutions Group.