Now There Really Are Two HPs
HP Inc. will continue on the company’s original path of making and supplying personal computers and printers. The other tranche is now called Hewlett Packard Enterprise, which will sell servers, data storage, networking, software and consulting services.
Each company is expected to have annual revenue of about US$50 billion and each will be among the 500 largest public companies in the US.
HP’s CEO, Meg Whitman said the old Hewlett Packard was a company that was very large and running two businesses that were very different.
With the split, H-P is creating two new big companies with real capabilities to change things, she said.
The test of the pudding is always in the eating and that will come this week as Wall Street gives its verdict on the new stock offers.
In an unusual tribute to the company’s founders, the offices of William Hewlett and David Packard, kept intact after they left more than 20 years ago, will be sealed off, providing limited access for staff. The garage and a collection of IT relics are also common property.