HP to buy 3Com for $2.7 bln

SAN FRANCISCO. November 12. KAZINFORM Hewlett-Packard Co. (HP) on Wednesday announced that it has agreed to buy 3Com Corp., a leading provider of networking solutions, for about 2.7 billion U.S. dollars; Kazinform refers to Xinhua.

The world's largest personal computer vendor said it will pay 7.90 dollars a share in cash for 3Com in a deal that analysts believe will intensify HP's competition with Cisco Systems Inc., the world's biggest networking equipment maker.

"Companies are looking for ways to break free from the business limitations imposed by a networking paradigm that has been dominated by a single vendor," Dave Donatelli, executive vice president and general manager of HP's enterprise servers and networking, said in a statement; Kazinform cites Xinhua.

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