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US: HP Enterprise in $8.8Bn deal with UK software Co. Micro Focus

By  |  September 7, 2016

Hewlett Packard Enterprise is nearing a deal to sell its software division to Britain’s Micro Focus International, a person familiar with the matter said on Wednesday, as the U.S. company focuses on serving large corporate customers.

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    The sale would help HPE CEO Meg Whitman execute a plan to shift HPE’s strategy to a few key areas such as networking, storage, and technology services since the company separated last year from computer and printer maker HP Inc.

    HPE had been in talks with private equity firms to sell the unit for between $8 billion and $10 billion. HPE was reportedly in talks earlier this week with buyout firm Thoma Bravo to sell its software division. At the time, HPE had received offers for the software unit of as much as $7.5 billion in a sale process managed by investment bank Goldman Sachs Group.

    The sale to Micro Focus, a multinational software company, is expected to be announced along with HPE’s latest quarterly earnings later on Wednesday, the source said. The source asked not to be identified because the deal is not yet public. HPE and Micro Focus declined to comment on the deal, which was first reported by Sky News.

    Full Content: Fortune

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