Business

For sale: Hewlett-Packard Enterprise to sell software business

The Wall Street Journal reported that HPE was seeking from $8 billion to $10 billion for its software operations

Afp September 03, 2016

The Wall Street Journal reported that HPE was seeking from $8 billion to $10 billion for its software operations. PHOTO: REUTERS

SAN FRANCISCO: Hewlett-Packard Enterprise (HPE) is looking to sell its software division, perhaps for as much as $10 billion, according to media reports Friday that cited sources close to the matter.

The move would include HPE shedding the operations of Autonomy Corp, a British software firm bought five years ago in an $11 billion deal that has since been branded a business blunder.

The former HP wrote off nearly $9 billion from the acquisition of Autonomy, which it accused of fudging financial results. The Wall Street Journal reported that HPE was seeking from $8 billion to $10 billion for its software operations.

According to the Financial Times, a number of private equity funds are interested in the HPE unit.

“As a matter of policy, HPE does not comment on rumours and speculations,” the company said in an email response to an AFP inquiry.

Published in The Express Tribune, September 4^th, 2016.

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