HP completes 3Com acquisition
Hewlett-Packard completed its acquisition of 3Com on Monday for $7.90 per share in cash, valuing the network infrastructure vendor at $2.7bn (£1.75bn).
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3Com's switching, routing and security line-up is to be folded into HP's existing networking division, ProCurve, to solidify HP's Converged Infrastructure strategy, which brings together elements such as
servers, internal storage, management software, power and cooling and networking.
The acquisition, originally announced
last November, was touted by HP as a means to achieve local strength in the fast-growing Chinese market, where 3Com is heavily engaged.
However behind the scenes it will be hoping the lower-cost 3Com kit will enable it to give Cisco a bloody nose following the two vendors' public
fall-out.
In a statement HP said that further details on product integration will be announced at a later date.
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