HP One Step Closer to Formalizing Split

HP, which plans to begin operating as two companies beginning Aug. 1, on Wednesday filed the necessary paperwork with the Securities and Exchange Commission to make it happen.

The filing of the “Form 10″ offers detailed information about the business and historical financial results of HP Enterprise.

HP Enterprise, one side of the split, will include enterprise hardware, software and services, “tech solutions that businesses need to optimize their traditional IT while helping them to build secure, cloud-enabled, mobile-ready infrastructure,” the company said. Sue Barsamian, VP, Worldwide Indirect Sales, told partners at Tech Data’s Channel Link event last month that they would see “no business interruption.”

The other side of the business is HP Inc., which will be home to the company’s traditional computer and printing operations. The Silicon Valley giant expects to offer “an impressive portfolio and a strong innovation pipeline across areas such as multi-function printing, Ink in the Office, graphics, notebooks, mobile and desktop workstations, tablets and phablets.

“Today, I’m more convinced than ever that this separation will create two compelling companies well positioned to win in the marketplace and to drive value for our stockholders,” said Meg Whitman, chairman, president and CEO, HP.

The split becomes legally effective Nov. 1.

Follow senior online managing editor Craig Galbraith on Twitter.

Leave a comment

Your email address will not be published. Required fields are marked *

The ID is: 89951