MARLBOROUGH, Mass.-3Com Corp. said it will secure full ownership of its H3C joint venture with Huawei Technologies Co. Ltd. by buying Huawei’s 49-percent stake for $882 million.
The agreement was the result of a bidding process established under the companies’ existing shareholders agreement that allowed either party to make cash bids to buy the other party’s shares in the venture. The bidding process began Nov. 15 and concluded Monday.
H3C was founded three years ago and provides Internet Protocol networking products, including routers, Ethernet switches, wireless local area network, security, voice and video over IP and network management systems.
