Hewlett-Packard (HPQ) Will Sell Majority Stake in H3C to Tsinghua Holdings
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HP Partners With Tsinghua to Create a Chinese Technology Powerhouse
May 21, 2015 8:03 AM EDTPALO ALTO, CA and BEIJING, CHINA -- (Marketwired) -- 05/21/15 -- HP (NYSE: HPQ) and Tsinghua Holdings today jointly announced a partnership that will bring together Chinese enterprise technology assets of Hewlett-Packard and China's prestigious Tsinghua University to create the leading Chinese provider of technology infrastructure.
Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51% stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately $2.3 billion, valuing the total business at $4.5 billion (net of cash and... More
