The company,announced in a news release that it intended to divide itself into a company aimed at business technology, including computer servers and data storage equipment, software and services, and a company that sells personal computers and printers.
The business-oriented company will be called Hewlett-Packard Enterprise, while the PC company will be called HP Inc. and will retain the company's current logo. The transaction is expected to be completed by October 2015, the end of HP's fiscal year.
In a statement, Meg Whitman, HP's Chief Executive, said the company was splitting up to "more aggressively go after the opportunities created by a rapidly changing market."
She also mentioned on Monday "dividing will provide each new company with the independence, focus, financial resources, and flexibility they need to adapt quickly to market and customer dynamics." This will make HP more competitive, she said.
Ms. Whitman will retain much power at both companies when divided. She will be Chief Executive of Hewlett-Packard Enterprise and will serve as non-executive chairman of HP Inc. Dion Weisler, now head of HP's printing business, will be President and Chief Executive of HP Inc.
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