HP BUYS 3COM FOR $2.7Bil.

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HP BUYS 3COM FOR $2.7Bil.

 user 2009-11-13 at 11:21:50 am Views: 54
  • #22930

    http://blogs.computerworld.com/15083/hp_to_buy_3com_for_2_7b
    HP BUYS 3COM FOR $2.7Bil.
    Next big tech rivalry: HP vs. Cisco
    Hewlett-Packard has agreed to buy 3Com for about US$2.7 billion, pushing forward the giant IT vendor’s strategy for combining computing, storage, services and networking under one roof. The deal has been approved by both companies’ boards of directors and is expected to close in the first half of next year. HP is offering $7.90 per share for 3Com, about $2 per share above the stock’s price of $5.69 at the close of trading on Wednesday. U.S. and foreign regulatory approvals will be required. 3Com will add to HP’s Ethernet switching portfolio, which is already a growing competitor to Cisco Systems, and add routing products to its lineup.