Hewlett Packard Enterprise is going ahead with the spin off of its enterprise services business and merger with CSC. Shareholders of record on 20 March will receive shares in the new services company, named Everett SpinCo, on a pro rata basis. After the spin-off, Everett will be merged with Computer Sciences Corporation. CSC stockholders will receive one share of Everett common stock for every one share of CSC. The new combined company will be renamed DXC Technology, with HPE shareholders holding 50.1 percent and CSC shareholders having 49.9 percent.
HPE also announced that its remaining services business will be renamed Pointext. Including over 25,000 specialists in 80 countries, Pointext offers Advisory and Transformation, Professional and Operational services to businesses. This includes helping organisations design, build and optimise their digital infrastructure, including the transition to the cloud, data analytics and applications digitisation.
