HP En­ter­prise to sell soft­ware busi­ness

The Myanmar Times - - International Business -

HEWLETT-PACKARD En­ter­prise is look­ing to sell its soft­ware di­vi­sion, per­haps for as much as US$10 bil­lion, ac­cord­ing to re­ports that cited sources close to the mat­ter.

The move would in­clude HPE shed­ding the op­er­a­tions of Au­ton­omy Corp, a Bri­tish soft­ware firm bought five years ago in an $11 bil­lion deal that has since been branded a busi­ness blun­der.

The for­mer HP wrote off nearly $9 bil­lion from the ac­qui­si­tion of Au­ton­omy, which it ac­cused of fudg­ing fi­nan­cial re­sults. The Wall Street Jour­nal re­ported that HPE was seek­ing from $8 bil­lion to $10 bil­lion for its soft­ware op­er­a­tions.

Ac­cord­ing to the Fi­nan­cial Times, a num­ber of pri­vate eq­uity funds are in­ter­ested in the HPE unit.

“As a mat­ter of pol­icy, HPE does not com­ment on ru­mours and spec­u­la­tions,” the com­pany said in an email re­sponse to AFP.

HPE, based in Palo Alto, Cal­i­for­nia, was the prod­uct of the Novem­ber 2015 split-up of com­put­ing gi­ant Hewlett-Packard.

The group di­vided in two: its en­ter­prise unit, HPE, and the per­sonal com­puter and printer busi­ness HP Inc that be­came a house­hold name but faced in­creas­ingly fierce com­pe­ti­tion over the years.

HPE chief ex­ec­u­tive Meg Whit­man has con­tin­ued mak­ing moves to dis­man­tle the com­pany.

HPE had in May an­nounced plans to spin off its cor­po­rate ser­vices busi­ness.

The unit was to be merged with Com­puter Sci­ences Corp to cre­ate a global cor­po­rate tech­nol­ogy ser­vices gi­ant with ex­pected an­nual rev­enues of $26 bil­lion. –

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