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HPE says it has closed the $8.8bn deal to spin off much of its software business with Micro Focus.
The enterprise giant said that the deal – which sees HPE merge the unwanted portion of its software operation with the UK-based Micro Focus to create what analysts estimate to be the seventh-largest software vendor in the world – had been finalized.
"With the completion of this transaction, HPE has achieved a major milestone in becoming a stronger, more focused company, purpose-built to compete and win in today's market," said HPE CEO Meg Whitman.
"And, this transaction will deliver approximately $8.8bn to HPE and its stockholders."
First announced in September 2016, the reverse-takeover agreement sees HPE selling off its IT management, big data, and security lines to Micro Focus, which will try to make the products more successful than they were under the former HP Inc.
Source: https://www.theregister.co.uk/2017/09/01/hpe_8bn_micro_focus_software_spinoff/
(Score: 4, Informative) by takyon on Sunday September 03 2017, @08:34PM
Classic case of too big to fail (completely). Huge corporation spends billions on an acquisition, hoping to cash in on the next big thing, then sells [theverge.com] or [recode.net] shuts [techcrunch.com] down [venturebeat.com] the [theverge.com] assets [cnn.com] at [wikipedia.org] a [cnet.com] huge [infoworld.com] loss [theguardian.com]. But they can keep on doing it because they have a lot of revenue coming in from somewhere. Well, some of them can.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]