Hewlett-Packard Co is seeking for buyers to sell the majority of its 51% stake in its networking subsidiary H3C Technologies Co, which used to sell network equipment and software products. Hewlett-Packard Co have planned to sell its 51% of its stock of the above mentioned companies to an Asian buyer.
Sarah Pompei, a Spokenwoman of Hewlett-Packard Co has declined to comment and the report has been published in The Wall Street Journal. Since Hewlett-Packard is planning to split into two companies (Hewlett-Packard Enterprise and HP Inc.), Hewlett-Packard is divesting its business.
Hewlett-Packard Enterprise will lead by CEO Meg Whitman and it works for corporate hardware and services, whereas, HP Inc will lead by Dion Weisler, vice president and it will focus on personal computers and other gadgets.
Andre Kindness, an analyst at Forrester Research Inc., said in an interview.
“There’s huge, major shifts going on in the networking industry with people refocusing on core areas,” “If you look at HP, going down the split, H3C in China is probably too much to manage at the moment.”
About H3C: In the year of 2010, HP acquired H3C and previously it was owned by 3Com Corp and Huawei Technologies Co. H3C was established in the year of 2003 and it has more than 4300 employees as per the information provided from its official website. Chinese companies have been providing various technology contracts to the H3C and in addition to that, various projects have been done by the company.
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