Wednesday, November 11, 2009

HP Buys 3Com

Palo Alto-based HP announced Wednesday afternoon that it is acquiring 3Com, in a deal worth $2.7 billion. According to the firms, the definitive agreement is worth $7.90 per share in cash. The two said the deal will "dramatically expand" HP's Ethernet switching offerings, routing products, and strengthen HP's position in China with a research and development team.