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HP does deal for hardware seller
Computing giant HP has completed the purchase of networking hardware seller 3Com.
The firm has finalised the process of its $2.7 billion merger deal, and 3Com will now join forces with its ProCurve networking platform.
HP said that it would give further information on the full extent of 3Com's products, and described the acquisition as a significant stretch in its converged infrastructure strategy.
The scheme aims to give HP a presence in every part of the enterprise IT industry, ranging from the user workstation and software level to the networking hardware, as well as the server and management fields.
The deal - first mooted in November 2009 - valued 3Com shares at a price of $7.90 per share, translated in total to some £1.6 billion.
The deal also gave HP a boost in what the company estimated to be a roughly $40 billion network hardware market.
Copyright © Press Association 2010
