Published on 08-19-2011 11:54 AM
HP, which is the largest PC manufacturer in the world, also announced that it may get out of PCs. Presumably, in the same way as IBM, by finding a home for the division in a company that is more geared up to producing consumer products.
They are also buying Autonomy, the largest software company in the UK, $10B, positioning themselves more in services and servers, competing head to head with IBM and Oracle. Of course Apotheker the CEO would probably prefer to buy his old company SAP but he can't afford it since it is worth as much as HP.
Analysts didn't like it and many downgraded HP, and as a result HP is down 20% (destroying $12B or so of market cap). So forget that SAP is worth as much as HP, it's now worth $10B more.
So what a story! The big fight by Carly Fiorina (against Walter Packard, Bill's son) to buy Compaq. Oh yes, and people's phones being bugged. Out she goes. In comes Mark Hurd. Weird sexual shenanigans and out he goes (and pops up at Oracle). In comes Leo Apotheker (whose prior experience was all running software businesses such as SAP and for a time was hiding to avoid being subpoenaed in a lawsuit with Oracle). I wonder how long he'll last.