Hewlett Packard has announced it is halting its WebOS business supporting computing devices including smartphones and the TouchPad, and revising its sales outlook downward. In a flurry of news, HP also announced it is acquiring U.K.-based software vendor Autonomy for approximately $10.2 billion and exploring options to spin off its personal computer business.

CEO Leo Apotheker said sales of HP's WebOS devices, specifically the TouchPad tablet, were not meeting expectations and that the company now plans to refocus on cloud computing, software, industry solutions and analytics.

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