Hewlett-Packard said that it is splitting into two listed companies
HP Founded by Bill Hewlett and Dave Packard are separating its computer and printer businesses from its faster-growing corporate hardware and services operations
Hewlett-Packard said that it is splitting into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations.Each of the two businesses contribute about half of HP’s current revenue and profit. The move will result in a monumental reshaping of one of technology’s most important pioneers, which has more than 300,000 employees and is on track to book $112 billion in revenue the fiscal year ending October.
Many investors and analysts had called for a break-up of the company, or a sale of the personal computer business, so that HP could focus on the more profitable operations of providing computer servers, networking and data storage to businesses.
HP is the latest in a line of companies, often under shareholder pressure, to spin off operations in an attempt to become more agile. Online auction company eBay Inc said last week it would spin off electronic payment service PayPal.
( Source : dc correspondent )
Next Story
