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Report: Hewlett-Packard plans to break into two companies

Hewlett-Packard Co. will announce as early as Monday that it is splitting into two companies, The Wall Street Journal reports, citing people familiar with the plan.

The personal computer and printer division will reportedly become separated from the business services unit. Under this split, chief executive Meg Whitman would become chairman of the PC and printer unit and CEO of the business services division.

Hewlett-Packard is one of the biggest technology companies in the world, and reported $112 billion in revenue during its last fiscal year. The company was founded by Bill Hewlett and Dave Packard, friends from Stanford University, in 1939.