ANALYSIS: HP Absent from Silicon Valley M&A Scene

Under current circumstances, engaging in non-distressed M&A activity is a sign of financial health. While other top-earning Silicon Valley firms roll forward with strategic acquisitions, HP Inc.—which on Wednesday reported an 11% fall in revenue and announced that it is now among the growing list of companies to suspend buybacks—has zero M&A deals under its belt so far this year.

HP Inc. dropped from fourth to fifth place on the 2020 Fenwick – Bloomberg Law SV 150 List, which ranks Silicon Valley companies by annual revenue. And HP’s only M&A activity this year has been its ...