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HP To Acquire 3com For $2.7 Billion

Posted by ryuzaki0 on from the getting-bigger dept.

An anonymous reader writes "HP and 3Com Corporation today announced that they have entered into a definitive agreement under which HP will purchase 3Com, a leading provider of networking switching, routing and security solutions, at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion. The terms of the transaction have been approved by the HP and 3Com boards of directors."

3 of 231 comments (clear)

  1. Awkward by symbolset · · Score: 4, Informative

    Somebody talked. The options market started heating up hours before the announcement.

    It looks like it's going to be a good fight, as the traditional tech companies merge transformer-style into a pair of consolidated all-in-one providers. Maybe they'll battle to the death for every server room dollar.

    All the while Apple sews up more and more lines in the consumer electronics market and Jobs smiles subtly. It's almost as if he knows what happens once we've consolidated everything in the datacenter.

    --
    Help stamp out iliturcy.
  2. Re:FU HP by oldspewey · · Score: 5, Informative

    ... what else is new? The IT company I work for implemented 5% pay cuts across the board this year, and then went out and made a ~$2B acquisition.

    --
    If libertarians are so opposed to effective government, why don't they all move to Somalia?
  3. They started buying companies by Peter+Simpson · · Score: 5, Informative

    Started with them in Massachusetts in '93. They had some of the worst and most disorganized upper management ever. The guys doing corporate strategy must have been ADHD. They would buy a new (usually startup) company every year...some good, some bad. Kept the original management for a year, then, after all the developers and original management had gotten PO'd and left, bought another company and did the same thing. Year after year. I'm not sure what they got out of it.

    I was laid off after they'd spent several years developing a gigabit enterprise switch, sold the first few, then made s surprise announcement that they were leaving the enterprise business. You can imagine how their major customers, who'd started to build new infrastructure using these switches, took that news.

    They did give out great clothing, though. Still have a collection. Great co-workers, good projects, extremely poor corporate management.