HP and Marlborough-based 3Com Corporation announced today that they entered into an agreement whereby HP will purchase networking giant 3Com for $2.7 billion, or $7.90 per share.
"Companies are looking for ways to break free from the business limitations imposed by a networking paradigm that has been dominated by a single vendor," said Dave Donatelli, executive vice president and general manager for enterprise servers and networking at HP. "By acquiring 3Com, we are accelerating the execution of our converged infrastructure strategy and bringing disruptive change to the networking industry."
Buying 3Com heavily increases HP’s network product line overnight and aims to increase HP’s position in China, where demand for networking is growing rapidly.
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