WRAP: Details of $87 billion Hewlett Packard merger with Compaq.
HP CEO Meg Whitman: "The Compaq acquisition was the right thing."
Compaq rose to become the largest supplier of PC systems during the 1990s before being overtaken by HP in 2001. Struggling to keep up in the price wars against Dell, as well as with a risky acquisition of DEC, Compaq was acquired for US$25 billion by HP in 2002. The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued.