Latest in 3com

Image credit:

HP to acquire 3Com in $2.7 billion deal

Share
Tweet
Share
Save

Sponsored Links

It's been a little while since we've seen a good multi-billion dollar acquisition, but HP's sure come through in a big way today, announcing that it plans to acquire networking giant 3Com in an all-cash deal valued at $2.7 billion, or $7.90 a share. The deal will, of course, still have to clear a few regulatory hurdles and receive the approval of 3Com's stockholders, but it has already been given the go-ahead by both company's boards of directors, and HP expects the transaction to close in the first half of 2010. Not surprisingly, HP sees nothing but pluses with the acquisition, saying that it will do nothing short of "transform the networking industry," and "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 center." Equally optimistic but slightly cooler on the world-changing language is 3Com CEO Bob Mao, who says that its company's "extensive product line and innovative technology together with HP's breadth and scale will expand our global opportunity."

Source: HP
In this article: 3com, acquisition, breaking, hp, merger
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share
Save

Popular on Engadget

Engadget's Guide to Privacy

Engadget's Guide to Privacy

View
Amazon rolls out a cash payment option for online orders in the US

Amazon rolls out a cash payment option for online orders in the US

View
Apple will use recycled rare earth metals in the iPhone's Taptic Engine

Apple will use recycled rare earth metals in the iPhone's Taptic Engine

View
Xfinity internet-only customers now get the Flex streaming platform for free

Xfinity internet-only customers now get the Flex streaming platform for free

View
YouTube is bringing a big, ugly ad banner to its TV app's home screen

YouTube is bringing a big, ugly ad banner to its TV app's home screen

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr