|10-08-2014, 01:46 PM||#1|
HP to split into two separate companies by late 2015
Hewlett-Packard (HP) said on Monday it will be splitting into two listed companies separated into computer and printer businesses in its latest attempt to regain competitive advantage in the market.
Hewlett-Packard Enterprise “will define the next generation of technology infrastructure, software and services for the New Style of IT,” while HP Inc. “will be the leading personal systems and printing company,” the computer giant said in a press release.
The company’s argues the split will help each company to better focus on its own industry segment, while maintaining sufficient scale.
HP has been conducting a massive reconstruction to adjust with the market’s shift away from personal computers to mobile devices.
Investors seem to think it is a sound move. The first trading session after the split announcement sent the HP’s shares 4.7% higher. Shares in HP have risen more than 25% year-to-date.
The split will be conducted as a tax-free distribution of shares to HP’s stockholders, and will be completed by the end of fiscal 2015.
HP split comes as part of the latest trend of technology companies and other corporations, following last week’s eBay, which split its businesses into separate companies, all among the view that tightly oriented firms perform better.
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