HP sells majority stake of China server, storage business to Tsinghua Holdings
Hewlett-Packard has sold a majority stake in its China server and storage business to Tsinghua Holdings as they launch a joint venture they expect will boost sales of HP enterprise hardware products in the country.Tsinghua will buy 51 percent of the joint venture, called H3C, for US$2.3 billion. H3C will include HP’s China-based server, storage and technology services assets, as well H3C Technologies, an HP networking equipment subsidiary in China.The transaction comes ahead of HP’s plan to split its enterprise and PC and printing business into separate companies, which is expected to happen by the end of the year. Hewlett-Packard Enterprise will sell software and enterprise hardware, while HP Inc. will sell printers, PCs, mobile devices, monitors and accessories.To read this article in full or to leave a comment, please click here