(Bloomberg) -- Hewlett Packard Enterprise Co. said it’s spinning off and merging some non-core software assets in a deal with U.K.-based Micro Focus International Plc valued at about $8.8 billion, continuing Chief Executive Officer Meg Whitman’s effort slim down its operations.
As part of the deal, Hewlett Packard Enterprise said it will receive $2.5 billion in cash and its shareholders will have 50.1 percent ownership in the new merged company. The software assets include areas such as application delivery management, big data and enterprise security, the Palo Alto, California-based company said Wednesday in a statement.
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