In a move that was widely expected, Hewlett Packard Co. (NYSE: HPQ) this morning said that it would join its printing and imaging group with its PC group in a single division to be called the Printing and Personal Systems Group. The combined group has revenue of more than $65 billion. The head of HP’s new division is Todd Bradley, who previously ran the PC group.
HP CEO Meg Whitman killed an announced plan by her predecessor to sell the company’s PC group shortly after she took over the company last September. Tying the two groups together undoes the split orchestrated by then-CEO Mark Hurd in 2005. Carly Fiorina had put the two together shortly before she was replaced by Hurd.
HP shares are up about 0.6% at $23.98 shortly before the market opens this morning. The stock’s 52-week range is $21.50-$43.28.