Cloud Computing: How Hewlett-Packard plans to split in two

July 2, 2015 Off By David

Grazed from Fortune. Author: Jonathan Vanian.

Hewlett-Packard is officially set to split in two. The tech giant filed regulatory documents Wednesday that confirmed its long discussed plans to spin off its printer and personal computer business in November. “Today, I’m more convinced than ever that this separation will create two compelling companies well positioned to win in the marketplace and to drive value for our stockholders,” HP CEO Meg Whitman said in a statement. “Since we announced our plan to separate in October, we’ve made significant progress and remain on track to complete the separation by the end of the fiscal year 2015.”

HP HPQ 1.11% , along with legacy tech companies like IBM IBM 0.29% , has seen its business slump over the past few years as the market for personal computers continues to decrease. Additionally, new rivals like Amazon AMZN -0.58% dominate emerging enterprise technologies like cloud computing…

Read more from the source @ http://fortune.com/2015/07/01/hewlett-packard-filing-split/