(The Hosting News) – Hewlett-Packard announced today that it will split the company into two different public companies, one focused on PC and printing and another focused on software and services.
“Today’s announcement comes as HP approaches the fourth year of its five-year turnaround plan. Over this time, the company has executed successfully against its turnaround objectives, keeping customers and partners at the forefront,” says a press release from HP. “HP has reignited its innovations pipeline, strengthened its go-to-market capabilities, rebuilt its balance sheet, and inspired its workforce and management teams. The company is now positioned to accelerate performance, drive sustained growth and demonstrate clear industry leadership in key areas.”
According to ABC News, the service business, Hewlett-Packard Enterprise, will be lead by Meg Whitman, while Dion Weisler will lead HP Inc.
HP first announced plans to split the companies in 2011, though executives decided not to follow through.
This deal is expected to close by the end of 2015.