Friday, November 20, 2009

HP to acquire 3Com

HP and 3Com Corporation today announced that they have entered into a definitive agreement under which HP will purchase 3Com at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion.

HP said the acquisition would expand its Ethernet switching offering, add routing solutions and strengthen its position in China. HP will also gain a foothold in the network security space through 3Coms TippingPoint brand.

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