PALO ALTO, Calif., April 18, 2016 – HP Inc. today announced a definitive agreement to divest a portion of its software assets to OpenText, a leader in enterprise information management. OpenText will acquire the technology assets and employees from four HP offerings, including HP TeamSite (web content management), HP Qfiniti (contact center workforce optimization), HP OpenText (augmented reality), and HP Hub (rich media management, optimization, and analytics).
“The divestiture is consistent with our plan to streamline operations to focus on our core, growth, and future strategic framework” said Enrique Lores, President of HP’s Imaging and Printing Business. “This set of software assets has limited synergies with the rest of our Personal Systems and Print businesses and is a stronger complement for OpenText.”
Subject to regulatory approvals and other customary closing conditions, HP expects the transaction to close later this fiscal year.
About HP Inc.
HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
© 2016 HP Inc. The information contained herein is subject to change without notice. The only warranties for HP Inc. products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP Inc. shall not be liable for technical or editorial errors or omissions contained herein.
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP Inc. and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of expectation or belief and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility the company’s business may not perform as expected; that the company may be unable to successfully implement separation strategies; and other risks that are described in the company’s reports to the U.S. Securities and Exchange Commission, including but not limited to the risks described in the company’s Annual Report on Form 10-K for its fiscal year ended October 31, 2015 and the company’s Quarterly Reports on Form 10-Q for its fiscal quarter ended January 31, 2016. The company assumes no obligation to update these forward-looking statements.