Hewlett-Packard moves forward with split

Technology and computer business Hewlett-Packard is pushing ahead with its plan to split into two companies.

Hewlett-Packard is moving forward with plans to split into two companies, filing paperwork to create a new entity that will sell commercial technology, while a separate spinoff will sell personal computers and printers.

HP said in a regulatory filing on Wednesday that the new company called Hewlett Packard Enterprise will include units of the old HP that sold computer hardware, software and tech services for large organisations.

The papers show those units had $US25.6 billion ($A33.49 billion) in sales over the past two quarters, with net earnings of $US852 million ($A1.11 billion).

Chief executive Meg Whitman, who will lead the new enterprise company, said in a statement that the split remains on track to occur by November.

HP, meanwhile, said one of its senior executives, Bill Veghte, resigned this week to pursue an unspecified new opportunity.


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Source: AAP


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