HP to Acquire 3Com for $2.7 Billion
Will Create Networking Industry Powerhouse with a Proven, Edge-to-Data Center Set of Solutions and Global Reach
HP (NYSE: HPQ ) and 3Com Corporation (NASDAQ: COMS ) (“3Com”) today announced that they have entered into a definitive agreement under which HP will purchase 3Com, a leading provider of networking switching, routing and security solutions, at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion. The terms of the transaction have been approved by the HP and 3Com boards of directors.
This combination will transform the networking industry and underscore HP’s next-generation data center strategy built on the convergence of servers, storage, networking, management, facilities and services. The resulting business outcome will help customers simplify the network, deploy a unique and innovative edge-to-core network fabric for the enterprise and improve IT service delivery capabilities, all delivered with best-in-class price-performance.
- Published: 12 November 2009
- Written by Editor