NEW YORK (CNN/Money) - Hewlett-Packard Co. on Friday officially closed its $19 billion buyout of rival Compaq Computer Corp., bringing to a close one of the most divisive merger battles in recent memory.
On Monday, Compaq investors will receive 0.6325 share of Hewlett-Packard for each Compaq share they own, putting the final value of the deal at $18.69 billion.
Compaq shares will cease being traded Monday, and shares of the combined company will begin trading on the New York Stock Exchange under the new ticker symbol "HPQ," replacing HP's previous "HWP" designation.
The transaction, which was the subject of a bitter proxy fight waged by dissident HP director Walter Hewlett, creates an information technology services company with nearly $80 billion in annual revenue, putting it a near second to IBM.
Carly Fiorina, HP's chairman and CEO, will retain that title. Michael Capellas, Compaq's chairman and CEO, will assume the role of president.
The two companies expect to be operating as a combined unit by next Tuesday. The merged entity will be headquartered in Palo Alto, Calif., and retain a significant presence in Houston, which is home to Compaq.
Although executives have characterized the deal as a merger of equals,"The new HP," as they are billing it, will be structured around four operating units, three of which will be led by HP veterans.
Its "Access Devices" business, consisting primarily of the company's personal computer operations and having roughly $29 billion in revenue, will be led by Duane Zitzner, president of HP's computing systems division.
The company's Printing and Imaging business, with about $20 billion in revenue, will be run by Vyomesh Joshi, who oversaw that unit under HP.
The company's IT infrastructure business -- encompassing servers, data-storage systems and software -- will be led by Peter Blackmore, previously executive vice president of sales and services at Compaq. That unit is expected to have about $23 billion in annual revenue.
Finally, a $15 billion IT services business with approximately 65,000 employees in consulting, support and outsourcing, will be led by HP's Ann Livermore.
Executives of HP are expected to reveal more details about their integration plans next Tuesday.