October 6, 2014
HP separates its PC and printer business from its corporate hardware and services division in a last-ditch attempt to improve its bottom line and gain market competitiveness.
The company has announced that the separation will take place through a tax-free distribution of shares to shareholders next year.
The division will give rise to two companies that will be publicly traded, each with more than 50,000 million dollars in annual income, as has been advanced hours before the official confirmation The Wall Street Journal.
The breakup has been on the company’s mind for a long time. In 2011 HP was on the verge of spinning off its PC business after the ill-fated acquisition of British software firm Autonomny.
Under the new plans, Whitman will be President of the PC and Printer business, to be known as HP Inc., and CEO of the other company, to be called Hewlett-Packard Enterprise.
via HP splits into two companies – Silicon News.
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