HP splits, computers and printers to be separate from technology solutions

Hewlett-Packard has confirmed it will split into two separate companies, one focused on computers and printers and the other focused on software, servers, cloud technology and other technology solutions.

"[The split] will provide each new company with the independence, focus, financial resources and flexibility they need to adapt quickly to market and customer dynamics, while generating long-term value for shareholders," said Meg Whitman, chairman, president and CEO of HP. "[W]e will be in an even better position to compete in the market, support our customers and partners and deliver maximum value to our shareholders."

The news was welcomed by investors — HP shares jumped more than 5 percent in pre-market trading Monday. The split is scheduled to be completed by the end of 2015.

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