HP’s Irish firms in good health

ANY decision by global technology giant Hewlett-Packard (HP) to sell its computer manufacturing division is unlikely to have any adverse effect on the company’s Irish operations, where about 4,500 people are employed.

Earlier this week, HP downgraded its full-year revenue estimates — from a best-case scenario of $130 billion (€90.3bn) to $127.6bn (€88.7) — saying the figure would come up short of market expectations. It also said that its earnings per share for the full year would be nearer $3.70 than its initial estimate of $4.27.

The tech giant followed that statement up yesterday with the news that it is considering disposing of its personal computer manufacturing division, as well as its smartphone business, in order to buy British software company Autonomy and move into the specialist software realm. The British company — which was established by Carrick-on-Suir native Mike Lynch who stands to make £504 million (€581m) from the takeover — develops software for email services. The rumoured $10.3bn (€7.2bn) consideration, should it succeed, would rank the deal as HP’s third-largest acquisition.