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Hewlett-Packard Co. (HPQ) plans to split into two separate companies, a personal-computer and printer business, and corporate hardware and services operations, a person with knowledge of the matter said. The breakup will be a tax-free distribution of shares to shareholders next year, according to the Wall Street Journal, which first reported the split-up of Hewlett-Packard.
Efforts to spin off businesses are gathering steam at other technology companies. International Business Machines Corp. (IBM) has been shedding its hardware operations, including the sale of its PC unit to China’s Lenovo Group Ltd. (992) in 2005, and last month, EBay Inc. (EBAY) announced that it would spin off its PayPal unit.