3Com Corp. today announced it will be acquired by private equity firm Bain Capital Partners LLC in a $2.2 billion...
"The 3Com board of directors and senior management team have thoroughly reviewed our strategic alternatives and have determined that the agreement with Bain Capital provides the best value for 3Com shareholders," stated 3Com president and CEO Edgar Masri in a press release. "We believe that this agreement better positions 3Com to establish itself as a global networking leader, which will benefit our employees, our customers and our partners."
In 3Com's case, Bain Capital managing director Jonathan Zhu said the acquisition will create growth opportunities and the ability to introduce new products.
"As business becomes ever more global, companies need to enhance their technology infrastructure to compete more effectively in the broader economy," Zhu said in a statement.