3Com sells itself off to PE company

NETWORKING FIRM 3Com said it will sell its shares to Bain Capital Partners with shareholders getting $5.30 each a pop.

The total transaction is worth about $2.2 billion, while some of the shares will be acquired by Huawei, which already has a deal in place with 3Com.

The deal is expected to be completed by early next year, CEO Edgar Masri said the agreement allows 3Com to better establish itself as a global networking leader. µ