HP Reportedly Prepping $10 Billion for Software Company, Plans to Sell Off PC Business

Paul Lilly

The rumor mill spun a wild one back in March of this year when reports surfaced that Hewlett Packard was considering selling off its PC business. Quoting a Commercial Times report, news and rumor site DigiTimes said HP was shopping around its PC division to the likes of Lenovo, Foxconn, and Samsung. On hindsight, it wasn't such a wild rumor after all, and before the day is done, HP might be totally invested in software.

Bloomberg is reporting that HP is getting ready to announce a $10 billion buyout of Autonomy Corp., an enterprise software firm with three separate headquarters (Cambridge, United Kingdom, and San Francisco). That's a huge investment, but it's only half of the story. According to Bloomberg, HP plans to spin-off its PC business, which would indicate it found a buyer after all.

No other details are known at this time, such as who that buyer might be or what terms will be attached to the deal, but we won't have to wait long to find out. HP is supposed to report earnigs later today at 4:00PM EST.

Image Credit: thevarguy.com

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