HP to buy 3Com for £1.9 billion

HP to buy 3Com for £1.9 billion

NEW YORK/SAN FRANCISCO (Reuters) - Hewlett-Packard Co is making a move into the network equipment market by striking a $3.1 billion (1.9 billion pound) 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 data storage. Cisco itself this year pushed into the server market, of which HP is a major player.

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