Hewlett-Packard is planning to spin off its PC business and buy Autonomy, the second largest pure-play software company in Europe, for $10 billion, according to a report.
HP is planning to make the announcement as early as Thursday, Bloomberg reports, citing people familiar with the company’s plans. HP released a statement confirming that it’s in discussions with Autonomy regarding a possible offer and that it has “authorized the exploration of strategic alternatives” for its Personal Systems Group, including spinning it off.
Although HP is credited with introducing the first mass-produced PC in 1968, the Hewlett-Packard 9100A “desktop calculator,” the company didn’t enter the consumer PC market until the mid-1990s. HP solidified its position in the PC market in 2002 with the $25 billion purchase of then-rival Compaq. But in the past couple of years, consumer PC sales have slowed down and have been a drag on growth. And evidence is mounting that sales of HP’s would-be iPad competitor, the TouchPad, are disappointing.
The move would represent a major shift in strategy for HP. Autonomy, a British enterprise software firm known for “meaning-based computing,” dabbles in artificial intelligence and augmented reality.
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Posted on Thu, 18 Aug 2011 17:49:40 +0000 at http://feeds.mashable.com/~r/Mashable/~3/0Em605J6usc/
Comments: http://mashable.com/2011/08/18/hp-m...ith-10b-software-acquisition-report/#comments
HP is planning to make the announcement as early as Thursday, Bloomberg reports, citing people familiar with the company’s plans. HP released a statement confirming that it’s in discussions with Autonomy regarding a possible offer and that it has “authorized the exploration of strategic alternatives” for its Personal Systems Group, including spinning it off.
Although HP is credited with introducing the first mass-produced PC in 1968, the Hewlett-Packard 9100A “desktop calculator,” the company didn’t enter the consumer PC market until the mid-1990s. HP solidified its position in the PC market in 2002 with the $25 billion purchase of then-rival Compaq. But in the past couple of years, consumer PC sales have slowed down and have been a drag on growth. And evidence is mounting that sales of HP’s would-be iPad competitor, the TouchPad, are disappointing.
The move would represent a major shift in strategy for HP. Autonomy, a British enterprise software firm known for “meaning-based computing,” dabbles in artificial intelligence and augmented reality.
More About: apple, Hewlett-Packard, ipad, PCsFor more Business & Marketing coverage:Follow Mashable Business & Marketing on TwitterBecome a Fan on FacebookSubscribe to the Business & Marketing channelDownload our free apps for Android, Mac, iPhone and iPad
Posted on Thu, 18 Aug 2011 17:49:40 +0000 at http://feeds.mashable.com/~r/Mashable/~3/0Em605J6usc/
Comments: http://mashable.com/2011/08/18/hp-m...ith-10b-software-acquisition-report/#comments