Although the decision to spin off the company's analytical instruments division pre-dated her arrival, one of her first major responsibilities as chief executive was overseeing the separation of the unit into the stand-alone Agilent Technologies. Fiorina proposed the acquisition of the technology services arm of PricewaterhouseCoopers for almost 14 billion, but withdrew the bid after a lackluster reception from Wall Street. Following the collapse of the dot-com bubble, the PwC consulting arm was acquired by IBM for less than 4 billion. HP later acquired Electronic Data Systems, another technology services company, which some considered a validation of Fiorina's strategy.