HP Enterprise closes $2.3bn deal with Chinese providerStaff writer ▼ | May 4, 2016
Hewlett Packard Enterprise (HPE) closed a transaction with an affiliate of Tsinghua Holdings to create New H3C Group, Chinese provider of technology infrastructure headquartered in Hangzhou and Beijing.
Technology Unisplendour Corporation bought 51% of New H3C
HPE plans to return the vast majority of the cash to shareholders through opportunistic share repurchases.
New H3C offers customers a complete portfolio of enterprise IT solutions, including networking, servers, storage, hyper-converged systems, and IT management products.
As the exclusive provider for the Chinese market, New H3C also provides a full range of HPE branded servers, storage and technology services.
HPE has a 49% ownership stake in the new company and Arun Chandra, Senior Vice President & COO of HPE's Enterprise Group, will serve as Chairman of New H3C. ■