HP in deal to buy 3Com for $2.7bn

Hewlett-Packard (HP) has announced it is to buy network systems maker 3Com in a deal worth $2.7bn (£1.6bn).

The deal is expected to be completed in the first half of 2010, subject to regulatory approval, the California-based personal computer giant said.

It added that the deal will allow the firm to combine servers, storage, networking, management and services.

The firm also reported preliminary quarterly profits that beat analysts' expectations, despite a fall in sales.

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