HP queen bee, Meg Whitman said that everything will be good to go for the separation of HP and Hewlett-Packard Enterprise would be effective on November 1.
Whitman made the announcement during the company’s technology event, HP Discover 2015, in Las Vegas.
The world’s No. 2 personal computer maker wants to split into two listed companies, separating its computer and printer businesses from its faster-growing corporate hardware and services operations.
Whitman believes that breaking HP into two companies, with about $57 billion in annual revenue each, will create two more nimble outfits which can respond to the constantly shifting technology marketplace.
Whitman will be left in charge of Hewlett-Packard Enterprise, which will include the $27 billion division that sells industrial-grade computing and networking gear and the $23 billion Enterprise Services business, which runs the tech and IT operations for other companies under contract.
Her slimmed-down company will walk away from the separation with the majority of the parent’s cash — about $13.3 billion — which will allow it to quickly pivot into deal-making mode. It’ll also allow both new companies to re-engage with Silicon Valley and the wider tech industry, she claims.