Monday, October 6, 2014

HP To Cleave Company In Two

Palo Alto-based HP said this morning that it plans to split the company into two pieces, with one piece focused on personal computers and printers, and the other piece focused on servers, storage, and other products aimed at the enterprise. HP said its enterprise technology infrastructure, software and services businesses will become Hewlett-Packard Enterprise, and that HP's personal computer and printing business will continue on as HP Inc. The two said the deal is structured as a tax-free spinoff. HP's Meg Whitman will become head of Hewlett-Packard Enterprise; Dion Weisler, Executive Vice President of HP's Printing and Personal Systems business will become President and CEO of HP.