Hewlett-Packard has reached an agreement to buy Massachusetts-based 3Com. HP, based in Palo Alto, Calif., will pay about $2.7 billion for the acquisition, according to The New York Times — equal to a 39 percent premium above 3Com’s closing share price on Wednesday.
3Com, a networking equipment manufacturer, had $216 million in total sales last year, according to SEC filings. The company is a market leader in China, which was a big factor in HP’s decision to make the buy, according to an HP representative cited by Bloomberg.
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