Hewlett-Packard Eats 3Com for $2.7 Billion
November 16, 2009 Timothy Prickett Morgan
In one of the truly unexpected, and some might even say bizarre, deals of 2009, IT powerhouse Hewlett-Packard last week said that it would pony up a cool $2.7 billion in cash to buy 3Com, a venerable networking equipment provider that was once a challenger to Cisco Systems but not so much any more. HP, of course, inherited a networking business of its own when it acquired Compaq in 2001, which we all know and love as the HP ProCurve business. While HP makes well-regarded and reasonably priced switches, Cisco has the more exotic gear (which commands high profits) |