Hewlett-Packard has yet to reveal details of the impact on its printer and commercial printing divisions after its proposed all-share acquisition of Compaq.

The Imaging and Printing franchise, a 14bn ($20bn) business, will be the third-largest by revenue of four business units. It will be led by HP Imaging and Printing Systems president Vyomesh Joshi.

HP claimed the firm would be the market leader in terms of revenue in servers, imaging and printing and access devices.

HPs offer values Compaq at 17.3bn and will create a firm with turnover of 60bn.

It is hoped that the move will result in annual savings of 1.7bn.

HPs chairman and chief executive, Carly Fiorina, will retain her current role. Compaq chairman and chief executive Michael Capellas will become president.