HP Acquires 3Com for $2.7 Billion

Posted: November 12, 2009 in Tech

HP and 3Com Corporation announced that they have entered into a definitive agreement under which HP will purchase 3Com, 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.

3Com also brings to HP best-of-breed network security capabilities through its TippingPoint portfolio.

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