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HP to buy 3Com in $2.7 bn deal
Hewlett Packard has reached a deal to buy network equipment-maker 3Com in a deal worth $2.7 billion, the companies announced Wednesday.
The deal will give HP an important foothold in the market for networking equipment and comes as other technology giants like Cisco and Oracle broaden their product ranges through acquisitions to diversify their revenue streams and offer corporate customers a complete set of technology solutions.
3Com is a pioneer of sophisticated networking equipment that was overtaken by Cisco in the 1990s and was then hard hit by the dot-com bust of 2000. It still has an specially strong presence in China and reported almost $300 million in revenue in the most recent quarter.
HP said the 3Com products will be folded into HP's own networking equipment business and that the deal was expected to close in the first half of 2010.
Last updated on Nov 12th, 2009 at 10:10 am IST--DPA
Possibly related news:
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- Firefox celebrates five years (Nov 10)
- Cisco raises Tandberg offer to $3.41 bn (Nov 17)
- eBay settles Skype software suit (Nov 7)
- Swindon to be Britain's first wi-fi town (Nov 18)
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A benchmark index for Indian equities closed a modest 29 points up Thursday on what was a rather dull day of trade.
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B.S. Meena was Thursday appointed secretary, department of of heavy industries.
Sudha Murthy, trustee of the Infosys Foundation, gave "perfect shots" for the Kannada film "Prarthane", her first film role, says director Sadhashiva Shenoy.
For the first time, the picturesque coastal Konkan region of Maharashtra will be on the country's air map with the development of an airport in Sindhudurg.
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