HP Plans More Outsourcing Deals

CERNOBBIO, Italy (Reuters) - Hewlett-Packard Co. will be the second biggest player in Europe's computer services market by the end of 2003 and has several $1 billion deals in the pipeline, a senior executive said on Monday.

HP vaulted into the white-hot market for computer services in April, netting a $3 billion deal with consumer goods giant Procter & Gamble and a contract worth more than $1 billion with Swedish network gear maker Ericsson .

HP Executive Vice President Ann Livermore told Reuters that more Ericsson-sized deals were probably on the way.

"We have deals which are over $1 billion in our funnel that we are pursuing and we are working on those deals in Asia, the Americas and Europe," she said in an interview during a European Union conference on e-government.