Dive Brief:

• Officials at Hewlett-Packard have filed formal paperwork with the Securities and Exchange Commission to split off HP Enterprise as a separate company.

• The company plans to complete the breakup by Nov. 1.

• HP Enterprise will sell servers, storage, network and enterprise services. HP Inc. will sell PCs and printers.

Dive Insight:

HP executives said they hope the split will enable each new entity to better compete in a tough market. The 76-year-old company has grappled as the market has shifted from PCs to smartphones and tablets, and from on-premises data center models to cloud computing services. Word of the filing came the same week HP announced its head of enterprise Bill Veghte is stepping down.