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Congrats on the potential transfer! HP internal offers can be tricky. They often have internal bands for roles, so research what the typical range is for that specific position and level within HP, not just the general market. You can sometimes find this info on internal job postings or by discreetly asking trusted colleagues who are already in that division. Focus on the increased responsibilities and the value you'll bring to the new team. Highlighting your existing knowledge of the company can also be leverage.
Be careful pushing too hard internally. While you want fair compensation, remember they already know your performance and history. External offers often have more room for negotiation because the company has less direct history with you. For an internal transfer, it's often more about adjusting to the new role's expectations and demonstrating your worth in that context. A modest increase tied to the new responsibilities might be more realistic than a huge jump. Good luck though!