There’s been numerous speculation about what the longer term holds for HP and its Personal Systems Group — a bunch that CEO Leo Apotheker seemed intent to shed — however the crew now led by CEO Meg Whitman has just confirmed that division is staying home, where it belongs. Meg says the corporate “objectively evaluated” the postulate of spinning PSG off but decided that keeping it in-home is “right for purchasers and partners, right for shareholders, and right for workers.” Or, maybe her reserve wasn’t met. Either way, the click release after the break goes directly to confirm that the board believes PSG will continue to “drive profitable growth” in these challenging times. Maybe good ‘ol Leo was right when he said “You continue to need larger machines to deal with heavy-duty tasks.” Heavy indeed.
Continued combination of HP and its Personal Systems Group expected to deliver greater customer and shareholder value
PALO ALTO, Calif.–(BUSINESS WIRE)–HP (NYSE:HPQ) today announced that it has completed its evaluation of strategic alternatives for its Personal Systems Group (PSG) and has decided the unit will remain portion of the corporate.
The strategic review involved subject experts from around the businesses and functions. The info-driven evaluation revealed the depth of the mixing that has occurred across key operations akin to supply chain, IT and procurement. It also detailed the numerous extent to which PSG contributes to HP’s solutions portfolio and overall brand value. Finally, it also showed that the price to recreate these in a standalone company outweighed any benefits of separation.
The result of this exercise reaffirms HP’s model and the worth for its customers and shareholders. PSG is a key element of HP’s way to deliver higher value, lasting relationships with consumers, small- and medium-sized businesses and enterprise customers. The HP board of directors is confident that PSG can drive profitable growth as a part of the bigger entity and accelerate solutions from other parts of HP’s business.
PSG has a history of innovation and technological leadership in addition to a longtime record of industry-leading profitability. It’s the No. 1 manufacturer of private computers on the earth with revenues totaling $40.7 billion for fiscal year 2010.
“As section of HP, PSG will continue to offer customers and partners some great benefits of product innovation and global scale around the industry’s broadest portfolio of PCs, workstations and more,” said Todd Bradley, executive vp, Personal Systems Group, HP. “We want to make the leading PC business on this planet even better.”
Additional information is obtainable at www.hp.com/investor/PSG-Decision.
FCC thinks ISPs should do a wiser job preventing fraud, theft
Robot navigates, reassembles truss structures
