HP to buy 3Com

San Francisco - US computer giant Hewlett-Packard announced on Wednesday that it has agreed to buy networking company 3Com for $2.7bn.

The California-based computer colossus said the 3Com purchase advances a strategy to offer businesses datacenter packages that combine servers, storage, networking, management and services.

"By acquiring 3Com, we are accelerating the execution of our Converged Infrastructure strategy and bringing disruptive change to the networking industry," said HP general manager of enterprise servers and networking Dave Donatelli.

The takeover offer has been approved by HP and 3Com boards of directors.

Under the terms of the deal, 3Com stockholders will get $7.9 per share of common stock. The acquisition is expected to close in the first half of next year providing it passes muster with regulators.

- AFP