The Corporate Counsel magazine has named Hewlett Packard Enterprise the "Best Legal Department of 2016".
Screenshot of the article in the Corporate Counsel magazine "Divided, Hewlett Packard Enterprise Conquers"
by Rebekah Mintzer
Hewlett-Packard split the PC and printers business from its enterprise products and services business. The split closed on November 1, 2015, and resulted in two publicly traded companies: HP Inc. and Hewlett Packard Enterprise.
The $110 billion deal to split the two companies involved more than 1,200 legal transactions, allocating 50,000 patents, and assigning or cloning 150,000 partner and customer contracts, with a timeframe of just over a year.
As mentioned by Rebekah Mintzer in the Corporate Counsel magazine's article "Divided, Hewlett Packard Enterprise Conquers", the in-house lawyers at HP "adopted a new M&A project management platform that proved indispensable in tracking the mind-boggling number of transactions involved in the HP split." The M&A system allows participants to track the deal progress and involve all stakeholders.
For HPE, managing the split meant they had to update the technology the department was using. "It's hard to believe, sitting inside one of the world's largest technology companies, that we were largely technology-free," Schultz stressed upon his arrival to the office of general counsel, as quoted by Mintzer. She points out that "now, the law department is actually ahead of the curve on its use of technology."
Midaxo is privileged to be the HP legal team’s platform for global M&A and for this largest-ever corporate separation; a real “man-to-the-moon” effort. We are proud of our customer's continued success.