3Com Corporation (COMS) Buys Out Huawei Venture for $882M
Networking hardware and software company 3Com Corp. said Tuesday it agreed to buy Huawei Technologies' 49 percent stake in their joint venture Huawei-3Com for $882 million.
3Com said the purchase price represents an implied equity value of $1.8 billion.
The deal would give 3Com full ownership of the venture, which has been 3Com's strongest growth asset, with its core business experiencing a slowdown.
The transaction is subject to customary approvals in China.
3Com's shares retreated a penny to end at $4.49 on the Nasdaq.
3Com said the purchase price represents an implied equity value of $1.8 billion.
The deal would give 3Com full ownership of the venture, which has been 3Com's strongest growth asset, with its core business experiencing a slowdown.
The transaction is subject to customary approvals in China.
3Com's shares retreated a penny to end at $4.49 on the Nasdaq.
Labels: 3Com Corp., COMS
posted by Stock Administrator @ 6:08 PM
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