HP plans 3Com acquisition
Published: 12 Nov 2009 09:52 GMT
HP said on Wednesday it plans to acquire 3Com, maker of network switching and routing products.
The deal is valued at $2.7bn (£1.6bn), or $7.90 per share. HP said the purchase is intended to boost its networking business, particularly in China, where most of 3Com's business is focused.
"By combining HP ProCurve offerings with 3Com's extensive set of solutions, we will enable customers to build a next-generation network infrastructure that supports customer needs from the edge of the network to the heart of the data centre," Dave Donatelli, executive vice-president and general manager of enterprise servers and networking at HP said in a statement.
See HP aims for networking cloud with 3Com buy on CNET News for the full story.
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