HP Completes Acquisition of 3Com Corporation

HP Completes Acquisition of 3Com Corporation

SINGAPORE, April 13, 2010 – HP today announced it has completed its acquisition of 3Com Corporation at a price of $7.90 per share in cash or an enterprise value of approximately $2.7 billion.

HP will integrate 3Com’s network switching, routing and security solutions with its existing HP ProCurve solutions, creating a comprehensive portfolio for customers. Combined with HP’s global reach, the expanded portfolio solidifies HP’s Converged Infrastructure strategy, which is built on the integration of servers, storage, networking, management, facilities and services. With this integration, customers will be able to simplify their networks, deploy an edge-to-core network fabric for the enterprise and improve IT service delivery capabilities.

The acquisition of 3Com expands HP’s Ethernet switching offerings, adds routing solutions and significantly strengthens the company’s position in China. 3Com also brings to HP network security capabilities through its TippingPoint portfolio. Together, HP is able to deliver one of the broadest network technology capabilities in the market to meet customer needs well into the future.

Further details on product integration will be announced at a later date.