HP to buy 3Com for $2.7 bn

Hewlett-Packard Co is making a move into the telecom equipment market by striking a $3.1 billion deal for 3Com Corp, in a major challenge to Cisco Systems Inc.

The deal is the latest sign that technology giants from IBM to Oracle Corp are increasingly encroaching in each other's markets as they seek to become one-stop shops for computing, networking and storage equipment. Cisco itself this year pushed into the computer server market, of which HP is a major player

To read more