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Xerox considers $27 billion Takeover offer of HP

7Nov By reutersNo Comments

ACQUISITION

Xerox considers $27 billion Takeover offer of HP

Printer maker Xerox Holdings Corp has made a roughly $27 billion cash-and-stock offer for personal computer maker HP Inc, a company more than three times its size. HP confirmed the bid, but declined to disclose the offer price. The companies have explored a combination from time to time, and HP will consider Xerox’s latest proposal “with an eye towards what is in the best interest of all our shareholders,” HP said in a statement. Five days ago Enrique Lores, former president of HP’s imaging and printing business, officially took over as its chief executive. Xerox’s stock has rallied under CEO John Visentin, who took over last year and resolved a long-running dispute with joint venture partner Fujifilm Holdings Corp. Xerox said it would sell its 25% stake in the joint venture f...

19Oct By AdityaNo Comments

News

Oracle CEO Mark Hurd has died

California, 19th Oct 2019-- Oracle CEO and former CEO of HP Mark Hurd has died at 62. Oracle confirmed his death on Friday. Hurd was on medical leave from one month, which Oracle announced in September. During his career, Hurd ran both Oracle and computer and printer maker Hewlett-Packard. Hurd joined Oracle as a co-president in 2010 a month after leaving HP. He resigned from HP following accusations of sexual harassment by a female contract worker. In that pre-#MeToo era, Hurd's departure from HP was a significant Silicon Valley drama. An investigation found while Hurd didn't violate sexual harassment policies, he submitted inaccurate expense reports connected to outings with his accuser. Hurd said he didn't try to conceal his dinners with the contractor after events she helped o...

HP Acquired US Software Startup SimpliVity for $650 Million

19Jan By NitishNo Comments

ACQUISITION

HP Acquired US Software Startup SimpliVity for $650 Million

Hewlett Packard Enterprise today announced a deal to buy business data management firm for USD 650 million in cash. Founded in 2009, the Massachusetts-based Simplivity sells "hyperconverged" systems that combine computing, storage and networking. HPE said the market for such systems was estimated at USD 2.4 billion last year and was expected to grow to nearly USD 6 billion by the year 2020. "This transaction expands HPE's software-defined capability and fits squarely within our strategy to make Hybrid IT simple for customers," HPE chief executive Meg Whitman said in a statement. HPE, based in Palo Alto, California, was the result of the November 2015 breakup of computing giant Hewlett-Packard. The group was split between its enterprise unit, HPE, and the personal computer and prin...

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

20Nov By PriyankaNo Comments

News

India Inc Commits $3.4 Billion For SDGs at Global Citizen Festival

Corporate leaders today committed a whopping USD 3.4 billion to help achieve the sustainable development goals which can positively impact the lives of 500 million people across the country with a special focus on gender equality, education and water and sanitation. These financial offers were made at the concluding day of the first-ever Global Citizen Festival here today. The Global Citizens India chapter said this came in response to over 20 lakh initiatives and campaigning efforts by them, and the key focus will be ending extreme poverty. The body said that of the 25 commitments worth USD 3.37 billion, or Rs 22,940 crore, that will cover over 50 crore people, $2 billion will come from the International Finance Corporation Banking on Women Group for gender equality. Under this, Int...

HP to Acquire Samsungs Printer Business For $1.05 Billion

12Sep By PriyankaNo Comments

ACQUISITION

HP to Acquire Samsungs Printer Business For $1.05 Billion

IT major HP today said it will acquire Samsung Electronics printer business in a deal valued at USD 1.05 billion, a move that will allow the US-based company further consolidate its position in the USD 55 billion A3 copier industry. The acquisition will bring an intellectual property portfolio of more than 6,500 printing patents and a workforce of about 6,000 employees globally, including nearly 1,300 researchers and engineers. Samsung has key engineering centre in South Korea with operations in the US, India, China, Japan, Russia, Canada, Brazil and other countries. HP, created as part of the breakup of Hewlett-Packard Co. last year, sells personal computers. However, it gets a significant chunk of its profit from supplying ink and toner for the printers it sells. However, HPs printi...

HP Unveils Worlds Thinnest Laptop, Business Notebook

7Apr By PriyankaNo Comments

Tech

HP Unveils Worlds Thinnest Laptop, Business Notebook

Personal computers and printing major HP Inc today launched eight new personal products including the worlds thinnest laptop at 10.4 mm thickness, a calling device, and a business notebook. According to the company, Spectre is the worlds thinnest laptop and has a battery life of up to nine and a half hours. The new calling device, HP Elite x3, is built-for-business mobile device and runs on Windows 10. HP Elite x3 bridges phablet, laptop and desktop to enable users to run key productivity apps across these different experiences seamlessly. The third product launched by the company HP EliteBook Folio is the thinnest and lightest business notebook with 12.4 mm thickness and weighs under 1 kg. It will come with a starting price of Rs 1.30 lakh. HP Envy notebook comes with a 15.6 inch dis...