Hewlett-Packard back on acquisition trail as turnaround begins to pay off
Thursday 21 August 2014
Hewlett-Packard is back on the acquisition trail despite the fallout from its disastrous purchase of Autonomy in 2011.
The US computer giant reported better-than-expected sales growth of 1 per cent to $27.6 billion (£16.6 billion) in the third quarter, after months of decline, and said M&A is back on the agenda.
It wrote down almost all of its $11 billion acquisition of software firm Autonomy and there is a legal battle between HP and Autonomy over the sale.
But HP chairman, president and chief executive Meg Whitman, said: “When I look at the way the business is performing, the pipeline of innovation and the daily feedback that I receive from our customers, my confidence in the turnaround grows stronger.”
She said that now its balance sheet was repaired, M&A will be part of its strategy again and said: “We’re in a position to make acquisitions the way we weren’t over the past year.”
Apple has been hit by complaints about the 1.1GB download
Much-loved cartoon character returns - without Sir David Jason
Liam Neeson's Downton dreams
Matt Smith is set to join cast of the Jane Austen classic - with a twist
Actress to appear in second series of the hugely popular crime drama
- 2 Scottish independence: Learn from Quebec's mistakes and beware of promises. Vote Yes.
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 5 Have you heard about the film Singapore has banned its people from watching? Well, you have now
Thailand beach murders: Thai PM suggests 'attractive' female tourists cannot expect to be safe wearing bikinis
Scottish independence: Final opinion polls show undecided voters could swing result either way
Scottish independence: Almost half of No voters have felt 'personally threatened' by the Yes campaign
Isis release 'Flames of War' video warning Obama of attacks troops could face in Iraq
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
iJobs Money & Business
£70-90,000: Saxton Leigh: Our client a London Market Insurer are seeking a Pro...
£60,000 - £80,000: Saxton Leigh: Our client is an leading Asset Manager based...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...