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Breaking: HP to sell off PC business, buy Autonomy

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Hewlett-Packard is planning to completely restructure its business, selling off its PC division, upping its focus on business solutions and killing off the disastrous WebOS tablet and phone venture it started when it bought Palm.

The first piece of the puzzle was reported by Bloomberg, which revealed that HP plans to sell off its PC division. This was followed by the same source, along with confirmation from the Wall Street Journal, revealing that HP is in talks with Autonomy regarding a $10 billion takeover of the UK software company.

Finally HP issued a statement confirming it is considering dropping the personal systems group - that which manufactures and services PCs - is indeed in talks with Autonomy and that it is scrapping WebOS with regards phones and tablets.

Autonomy is a highly successful company specialising in database search software, and the news of this potential acquisition meant that HPs stock actually rose on a day when all around were falling.

The story is still breaking but the repurcussions of all this are clearly huge with HP potentially changing from a brand well known among consumers for its PCs, laptops and printers to one that, like Oracle, is an obscure business solutions and technology provider.

We'll have more as further details are confirmed.

Sources:
Bloomberg
HP Press Release

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