Hewlett Packard (HPE) will spin-off and merge its non-core software assets with Micro Focus to unlock a faster growing, higher margin, stronger cash flow company. HPE said the deal was valued at $8.8 billion.
Meg Whitman, HPE president and CEO said, “As we said in the Enterprise Services announcement last quarter, both software and services remain key enablers of our go-forward strategy, and we are focused on building the right portfolio to win in our target markets. We believe the portfolio changes we’ve made over the past year are setting up HPE for long-term success while unlocking tremendous value for our shareholders.”
Hewlett Packard Enterprise (HPE) reported Financial Services fiscal Q3/16 revenue of $812 million was up 1% from $807 million a year earlier. Net portfolio assets were up 7% and financing volume was down 6%. HPE said the Financial Services business delivered an operating margin of 9.9%.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!