Hewlett-Packard Officially Files to Split
Tech giant Hewlett-Packard on Wednesday filed paperwork with the Securities Exchange Commission, detailling its two new companies, HP Inc. and Hewlett Packard Enterprises. The filing of the Form 10 is an important step in HP's plan to separate into two independent public companies: Hewlett Packard Enterprise Company and HP Inc. The filing provides detailed information on the business and historical financial results of Hewlett Packard Enterprise and will be updated with additional information in subsequent amendments as part of the SEC review process.
HP plans to provide additional information on the strategy and financial performance of both companies at the HP's Securities Analyst Meeting on September 15, 2015, in the San Francisco Bay Area.
"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 Chief Executive Officer, HP. "Since we announced our plan to separate in October, we've made significant progress and remain on track to complete the separation by the end of the fiscal year 2015."
Hewlett Packard Enterprise will provide cloud-enabled, mobile-ready technology solutions for the IT. With net revenue of approximately $55 billion in fiscal year 2014, this company will include HP's portfolio across the company's Enterprise Group, Enterprise Services, Software, and Financial Services businesses.
HP Inc. will own and operate our printing and personal systems businesses, which currently hold the number one position in printing, the number one position in the profitable commercial personal systems segment, and the number two position in the consumer personal systems segment (by units shipped). HP Inc. will have a portfolio across areas such as multi-function printing, Ink in the Office, graphics, notebooks, mobile and desktop workstations, tablets and phablets.