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HP to Acquire 3Com in Dig at Cisco

in News on November 11, 2009 at 1:29 pm PT

Another big acquisition for Silicon Valley. Hewlett-Packard said Thursday said it would acquire networking gear outfit 3Com for $2.7 billion, or $7.90 a share. The acquisition, which has been approved by both companies’ boards, will bolster HP’s Ethernet switching offerings and, thanks to 3Com’s routing business, intensify competition with rival Cisco.
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