HP in better position now to make acquisitions: CEO

Meg Whitman, CEO of Hewlett-Packard, arrives for the first session of annual Allen and Co. conference at the Sun Valley, Idaho Resort July 10, 2013. REUTERS/Rick Wilking

SAN FRANCISCO (Reuters) - Hewlett-Packard Co is in a better position today to make acquisitions than in the past year, given its $4.7 billion in net cash and as it evaluates its overall cloud software capability, Chief Executive Officer Meg Whitman said in an interview.

HP, which posted a 12 percent gain in revenue from its personal computer-focused division in the fiscal third quarter, is benefiting from a bounce in the PC market as consumers and corporations upgrade ageing machines, she told Reuters on Wednesday.

“we’re in a position to make acquisitions the way we weren’t over the past year,” she said.

Reporting by Edwin Chan; Editing by Bernard Orr