The maker of expensive printer ink, HP will be splitting itself in two on November 1.
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.
