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3Com agrees to $2.2 billion buyout
By: Associated Press | ∞
BOSTON -- Network equipment maker 3Com Corp. is giving up its independence in a $2.2 billion buyout by Bain Capital Partners, but it's gaining freedom from the whims of the market and a chance to expand in China.
The cash deal announced Friday also gives Huawei Technologies, China's largest manufacturer of telecommunications equipment, a minority stake in the technology pioneer -- something that could improve its prospects in Asia and raise eyebrows in Washington.
3Com, which faces brutal competition from Cisco Systems Inc. and others, is now a shadow of the high-flying star it became in the late 1990s technology boom. At one point in 2000, its shares briefly rose above $100 apiece.
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