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Whitman announces “end of big acquisitions” for HP

Whitman announces “end of big acquisitions” for HP

October 6, 2011

Hewlett-Packard’s newly chosen CEO Meg Whitman stated the company would not be pursuing more large scale acquisitions, and also set a time-table for a decision on the company’s PC division.

Whitman took part in a Fortune-sponsored conference on women in leadership in San Francisco yesterday, and outlined several policies during her talk.

Bloomberg reports that when asked if she would be following in the services strategy of
her ousted predecessor Leo Apotheker, Whitman stated: “It’s certainly the end of big acquisition.”

Whitman added that “you don’t transform $129 billion companies,” and that the company would instead make use of existing assets and “make them great”.

The announcement marks a stark about-face from the policies adopted by Apotheker this year, which saw HP invest $10 billion in UK software and services company Autonomy, as well plans to possibly sell HP’s vast but unprofitable PC division.

Mercury News reports that Whitman also said tech giant would “try [their] hardest” to reach a conclusive decision on whether to spin-off the PC division by the end of the month.

Whitman’s decision may be a smart move, considering that Apotheker’s bold Autonomy acquisition may well have cost him his position, and former CEO Carly Fiorina also fell out of favour with the board of directors after pushing the merger with computer rival Compaq.

Categories : City News

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