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HPE Wraps Up $8.8bn Micro Focus Software Dump Spin-Off

posted by cmn32480 on Sunday September 03 2017, @05:03PM   Printer-friendly
from the let-the-bug-hunt-begin dept.

MrPlow writes:

Submitted via IRC for Bytram

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/

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  • (Score: 4, Insightful) by c0lo on Monday September 04 2017, @01:47AM (1 child)

    by c0lo (156) Subscriber Badge on Monday September 04 2017, @01:47AM (#563265) Journal

    So they bought a load of stuff just for the sake of it, and now they need to get rid of it...

    That was the "synergy" period. Now's the "focus" one.

    If there's no significant increase in profits, top level execs need to show activity and utter "strategic words", otherwise there's no bonus.

    --
    https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
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  • (Score: 3, Funny) by EETech1 on Monday September 04 2017, @04:45AM

    by EETech1 (957) on Monday September 04 2017, @04:45AM (#563292)

    https://www.youtube.com/watch?v=GyV_UG60dD4 [youtube.com]