HP and Microsoft Corp. today announced a three-year agreement to invest $250 million to significantly simplify technology environments for businesses of all sizes.

This agreement represents the industry’s most comprehensive technology stack integration to date – from infrastructure to application – and is intended to substantially improve the customer experience for developing, deploying and managing IT environments.

Microsoft Corp. and HP are hosting a teleconference today at 8:15 a.m. PST, where Steve Ballmer, CEO of Microsoft, and Mark Hurd, chairman and CEO of HP, will take questions regarding a new joint agreement and joint investment to prepare customers for the next generation of business computing. To participate, US participants call (Tollfree): 800-369-1191, International participants call: 1-212-519-0829. The passcode is 3022632.

For more information, including a playback of the teleconference and videos with Microsoft CEO Steve Ballmer and HP CEO Mark Hurd, visit the Virtual Press Room; or read the Microsoft Blog for Brad Anderson’s entry about the news. You can also follow the announcement and submit your questions on Twitter using the hashtag #HPMSFT.