The former will deliver corporate IT infrastructure, software and services and the latter PCs and printing systems. HP has found some success in selling its financial software services and core banking systems around the world, predominantly in developing economies for smaller banks.
The separation into two businesses will enable each business to better concentrate on improving dedicated services. HP Financial Services will continue as normal under Hewlett-Packard Enterprise and also provide services for customers and partners of HP Inc.
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"By leveraging its HP Financial Services capability, the company will be well positioned to create unique technology deployment models for customers and partners based on their specific business needs. Additionally, the company intends for HP Financial Services to continue to provide financing and business model innovation for customers and partners of HP Inc.," it said in a statement.
The transaction is expected to be completed by the end of fiscal 2015.
This is the fourth year of HP’s five-year turnaround plan and much of that time has been spent plotting a split. HP flirted with the idea of separation back in 2011, after it acquired Autonomy Corp, UK software company but was pressured into keeping it intact by shareholders.
