HP to acquire 3Com for $2.7 billion
"Will create networking industry powerhouse"
12 November 2009 9:23 GMT / By Amy-Mae Elliott
HP has announced it has entered into an agreement to purchase 3Com, said to be "a leading provider of networking switching, routing and security solutions".
HP will pay $2.7 billion for the company with the transaction expected to close in the first half of 2010.
In a press release, HP says the acquisition "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".
3Com is big in China, giving HP an in to a rapidly growing IT market, while the buy-out as a whole will mean HP will threaten Cisco's dominance in the networking market.
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