Computing conglomerate Hewlett-Packard (HP) has reportedly scaled back its corporate venturing activities and eliminated some sections of its corporate venturing structure altogether.
HP is planning to make an announcement in the next fortnight concerning its merger and acquisition activities and how they will progress in the wake of a company wide organisational shake-up, news provider PE Hub said.
The reports follow the news on Friday that Shane Robison would step down as chief strategy and technology officer with the position within the company being eliminated. Robison was said to be involved in many of HP’s most significant acquisitions since its merger with competitor Compaq in 2002.
HP launched a partnership with trade association the Angel Capital Association in April, providing its members access to business opportunities and developer programs, and is one of the computing conglomerates to have invested in the $400m Startup America initiative. It is currently unclear how closely HP will sustain its interest in the projects, post-reorganisation.