HP yesterday announced it has completed its acquisition of 3Com Corporation at an enterprise value of approximately $2.7 billion or roughly $7.90 per share in cash.
The recent purchase by HP translates into accelerated Converged Infrastructure Strategy which will integrate 3Com’s network switching, routing and security solutions with HP’s ProCurve Solutions. The Palo Alto-based company announced this in their press release yesterday 12th April, 2010. The move is expected to greatly expand and solidify HP’s Converged Infrastructure Strategy to enable customers to simplify their networks, deployment of edge-to-core network fabric for the enterprise and improvement of IT service delivery capabilities.
HP’s acquisition of 3Com is seen to be a significant move to strengthen its position in China. This, expands HP’s Ethernet switching offerings, adds routing solutions and brings to HP network security capabilities through 3Com’s TippingPoint portfolio. The latest move by HP, the world’s largest technology company will possibly deliver one of the broadest network technology capabilities in the market to meet customer needs.