Whitman eyes acquisitions and says HP’s turnaround is on track

City A.M. Reporter
HEWLETT-PACKARD sees acquisitions as part of the world’s largest PC maker’s future and could do deals up to $1.5bn (£961.8m), chief executive Meg Whitman told US cable network CNBC yesterday.

“We have our eye on a number of areas,” the executive said, also noting that the company could do deals in the $100m to $300m range.

“I don’t want to do it just to buy growth,” she said.

“I want to do it to further the strategic position in the marketplace for HP.”

Whitman was speaking the day after HP reported disappointing quarterly results and curtailed its outlook for 2014.

“We’re two years into a five-year turnaround... overall, I’d say we’re on track. We have a lot of heavy lifting ahead, but I like where we are,” she said.