News: CEO Meg Whitman to ring the changes from New York Stock Exchange.
In IT industry terms it couldn’t be bigger.
While we’re used to writing about M&As to make super giants, writing about super giants voluntarily splitting up is more rare.
Today HPE comes in to existence.
HPE will sell the firm’s Helion Cloud, its Moonshot servers, X86 servers, 3Par branded storage, HP Oneview management platform, security and analytics software and services.
HPE CEO Meg Whitman is in New York to ring hte opening bell at the New York Stock Exchange.
In a guidance statement to analysts in September Whitman said the firm would have revenues of over $50bn. "Hewlett Packard Enterprise will be smaller and more focused than HP is today, and we will have a broad and deep portfolio of businesses that will help enterprises transition to the new style of business," said Whitman
HPE will be run on along several lines.
– 50% of Hewlett Packard Enterprise’s revenue will come from EG, spread across servers, storage, networking, and technology services. A target of 3% CAGR has been set.
– Around 37% of Hewlett Packard Enterprise’s revenue will come from Enterprise Services. The division is undergoing a $2bn restructuring programme focused on cutting costs and improving operational efficiency. Guidance offered for fiscal 2016 showed expected improvements in operating margin on flat revenue.
– 7% of Hewlett Packard Enterprise’s revenue will come from Software.
HP Discover takes place in London Dec 1-3rd.