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.
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