Sunday, April 11, 2010

HP Completes Acquisition of 3Com for $2.7 Billion

HP completed its previously announced acquisition of 3Com at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion.

HP will integrate 3Com's network switching, routing and security solutions with its existing HP ProCurve solutions.

The deal significantly accelerates HP's next-generation data center strategy, which focuses on the convergence of servers, storage, networking, management, facilities and services. The deal also strengthens the company's position in China via the H3C offerings. In addition, the combination will add a team of 2,400 engineers in China.

3Com also brings to HP network security capabilities through its TippingPoint portfolio. The company said it will be able to deliver one of the broadest network technology capabilities in the market.