In an announcement made by HP, the company has confirmed the report of its planned acquisition of 3Com for about $2.7 billion or $7.90 per share in cash. HP has not as such disclosed plans for how it will integrate 3Com's products or channels into its own portfolio, stating that those details will come "at a later date".
HP has, however, confirmed that 3Com's network switching, routing and security products will become part of HP ProCurve and has also noted that the acquisition will give it a much stronger position in China, bolstering its network security offerings – thanks to 3Com’s TippIngPoint line.
The acquisition was approved by China's Ministry of Commerce late last week, according to a Form 8-K filing with the Securities and Exchange Commission from 3Com dated April 7. HP had first announced the acquisition on November 11.
