HP is a global leader in a number of technology areas, including personal computing hardware, software, services, and now with the acquisition of 3Com, enterprise level networking hardware.
HP had this to say on the matter: “This combination will transform the networking industry and underscore HP’s next-generation data center strategy built on the convergence of servers, storage, networking, management, facilities and services. The resulting business outcome will help customers simplify the network, deploy a unique and innovative edge-to-core network fabric for the enterprise and improve IT service delivery capabilities, all delivered with best-in-class price-performance.”
Both companies were up on the day, and in after hours trading, 3Com was up 34.8%, HP was up 1.13%.
This sale combines two of the larger technology companies in existence, bringing pressure on a number of related companies, such as Cisco.