News Advisory: June 20, 2016
Topics: Financial

HP Inc. Announces Divestiture of Certain Software Assets to OpenText

PALO ALTO, Calif., June 20, 2016 – HP Inc. today announced a definitive agreement to divest a portion of its software assets to OpenText, a leader in enterprise information management software. OpenText will acquire the technology assets and employees from four HP offerings - HP Exstream, HP Output Management, HP TeleForm and HP LiquidOffice. 

The sale is consistent with HP’s focus on optimizing its portfolio for long-term growth and its partner-centric approach to integrating best-of-breed software into its document workflow solutions. The transaction strengthens the existing HP and OpenText partnership and benefits customers by combining OpenText’s presence in document and content management solutions with HP’s leadership in managed print services. 

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.

© 2017 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.

Forward-Looking Statements 

This press release 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 plans, intentions, expectations or beliefs 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; risks relating to the completion of the transaction on anticipated timing; 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 Report on Form 10-Q for its fiscal quarter ended April 30, 2016. The company assumes no obligation to update these forward-looking statements.