HP’s 3Com deal is a head-on challenge to Cisco System’s networking business.
(David L. Ryan/Globe Staff/File)
MASS. MOVERS
3Com Corp. surged on the Russell 2000, the bump coming courtesy of Palo Alto, Calif.-based Hewlett-Packard Co.’s plan to acquire the Marlborough company for $2.7 billion. The proposed deal follows networking giant Cisco Systems’ teaming with Hopkinton storage company EMC Corp. in a bid to invade HP’s stronghold in server computers, networking, and storage. “3Com is the best-kept secret out there,’’ said Mark Fabbi, an analyst with market research firm Gartner Inc. in Toronto. 3Com Corp. also has a significant presence in China.
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