Month after Hewlett-Packard is divided into two publicly traded companies, one of the new small business plans to become even smaller.
Hewlett Packard Company will sell its enterprise services business, offering call centers and network maintenance, the Company TEAM Sciences in a stock transaction, the companies announced Tuesday.
The agreement is intended to be the next step in the recovery of the descendants of Hewlett-Packard, which erupted last fall after years of struggle wishes to turn his luck. Silicon Valley icon itself was divided into two small companies: HP Enterprise, which focuses on the sale of equipment and servers for enterprise customers and HP Inc.,s pecializing in personal computers and printers.
In partnership with Computer Science, HP Enterprise is the choice of another technology company that is the product of a corporate break. former parent a computer science company focused on the government last year and merged with another company, a similar offer came Tuesday structure.
Under the terms of the agreement, HP Enterprise Services unit will spin off company, which later merged with Computer Science in a stock transaction. HP Enterprise Computing Science and shareholders each own half the shares of the new company.
President and CEO of Computer Science, Mike Lawrie, realize these functions to the new company. CEO of Hewlett Packard, Meg Whitman, will join the merged board.
The complex maneuver, known in circles to do business as a reverse Morris Trust, means that shareholders of both HP Enterprise and IT should not pay taxes on the merger.
Tuesday’s agreement essentially cancels HP purchase of nearly $ 13 billion of Electronic Data Systems, the outsourcing company founded by H. Ross Perot.
HP Home shares rose nearly 11 percent in trading after hours, at $ 18, while those of Computer Science has increased nearly 24 percent to $ 44.05.