Report: HP to Spin Off PC Biz, Buy Autonomy for $10 Billion
The wild week in tech news continues. First it was the shocker that Google scooped up Motorola Mobility,and now HP reportedly plans to ditch its PC business and will purchase Autonomy Corp., a U.K. based database search company, for a price of $10 billion.
According to Bloomberg, HP could make this major announcement imminently and cited the company's CEO Leo Apotheker's past statements expressing a strong desire to move towards cloud computing. Other outlets have echoed the report, including tech sites Gigaom and All Things Digital. Arik Hessendahl of ATD made the logical point that HP's lackluster sales of its TouchPad tablet, which competes head to head with Apple's reigning iPad 2, could have been the final straw forcing HP to pull the plug.
It also may be no coincidence that a DisplaySearch report just declared Apple the leader in the mobile PC market. If this reports are true, then a big shake-up is due as HP did $41 billion in business last year. We'll be eyeing the situation as it develops.