HP Announces $2.7bn Acquisition of 3Com

Despite yesterday being Veteran's Day, HP was busier than ever. At the end of the business day, the company announced plans to purchase networking company 3Com in a multi-billion dollar deal.

The deal, already approved by the board, will see HP acquire 3Com for $7.90 per share, or $2.7 billion and bring the two that little bit closer to networking competitor, Cisco.

CNet reports that Cisco released the following statement in response to the news:

"While Cisco has a healthy respect for all of our competitors, acquisitions in our industry only validate the fact that networking is becoming the platform for all forms of communications and IT. As the leader in the networking market, Cisco is very confident in our business strategy, commitment to product innovation and ability to provide strategic business value to our customers in a highly competitive marketplace."

The deal is expected to close in the first half of 2010.

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  • hellwig
    3Com, I haven't heard much about that name since the days of 56k modems. I still have a 56k 3Com modem. Don't use it anymore obviously, but I still have it.

    I suppose 3Com has been much busier in the corporate sector than in the commercial sector. How many network companies does this leave? HP/3Com, Cisco/Linksys, Netgear, and D-Link? Getting pretty scarce out there.
  • darkknight22
    all depends on the market you're in. Cisco def has the most wide reaching product offering but there are specialized competitors as well.

    i think this is great for HP as there commercial grade equipment is top notch. adding 3Com should only bring great things.
  • Niva
    3com are the most rock solid nic cards, I have a PCI NIC from 3com which came in a PC I bought in 96 and I still use that sucka! Not the PC, the NIC card in another one I built in 2005 :)

    They did fade away into obscurity lately though, thought the company had already folded. Kinda sad to hear HP bought them but I guess it's the way of things these days... either die or get bought out.