HPE, on Friday, announced that the spin-off and merger of its software business with Micro Focus International has now been completed. This completion will deliver approximately $8.8 billion to the HPE and its stockholders. HPE feels that it is now a stronger and more focused company, and ready to compete the market. HPE will now focus on simplifying the Hybrid IT, offering the flexible consumption models, and innovating the intelligent edge.
HPE is a leading technology company which was formed in 2015 when the company once known as Hewlett-Packard got split into HP Inc and HPE. The services of HPE is helping its customers make IT more efficient, productive and secure, and accelerating the digital transformation. While, Micro Focus is a global enterprise in Newbury, U.K., and has a portfolio of software which focuses on DevOps and Hybrid IT.
HPE will now execute ambitious strategy based on three key pillars-
• Simplifying the Hybrid IT through secure and software-defined offerings which will allow customers to move data across their private cloud, on-premises data centers, and public cloud environments.
• Working harder on the intelligent edge, that runs campus, branch and Internet of Things(IoT) applications.
• Offering the top expertise and flexible consumption models to allow customers transform their IT environments.
“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. And, this transaction will deliver approximately $8.8 billion to HPE and its stockholders.” – Meg Whitman, Chief Executive Officer of HPE.
John Schultz, Executive Vice President, General Counsel and Corporate Secretary of HPE, will join the board of directors of Micro Focus with the completion of their transaction.
HPE received $2.5 billion cash from Seattle, prior to the completion of the transaction. Seattle will no longer contribute to HPE financials going forward, and HPE will provide the update about its new contributor after reporting the earning of Q3 fiscal year 2017 outlook on September 5.