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The Hewlett-Packard headquarters in Palo Alto, California.
Hewlett-Packard announced Monday a definitive agreement to acquire Aruba Networks, a leading provider of network access solution for mobile enterprise, for about $3 billion in an all-cash deal.
The deal values Aruba at $24.67 share, including cash and debt. It was trading at 24.42 before Monday's opening bell. (Click here for the latest price.)
Both companies' boards of directors have approved the deal.
Together the companies will deliver converged campus solutions and the new organization will be led by Aruba's Chief Executive Officer Dominic Orr.
Read MoreHP revenue misses as commercial sales fall
"Enterprises are facing a mobile-first world and are looking for
solutions that help them transition legacy investments to the new style of IT," said HP CEO Meg Whitman said in a press release. "By combining Aruba's world-class wireless mobility solutions with HP's leading switching portfolio, HP will offer the simplest, most secure networking solutions to help enterprises easily deploy next-generation mobile networks."
The transaction is expected to close in the second half of HP's fiscal year 2015, subject to Aruba stockholder and U.S. regulatory approvals.
The deal values Aruba at $24.67 share, including cash and debt. It was trading at 24.42 before Monday's opening bell. (Click here for the latest price.)
Both companies' boards of directors have approved the deal.
Together the companies will deliver converged campus solutions and the new organization will be led by Aruba's Chief Executive Officer Dominic Orr.
Read MoreHP revenue misses as commercial sales fall
"Enterprises are facing a mobile-first world and are looking for
solutions that help them transition legacy investments to the new style of IT," said HP CEO Meg Whitman said in a press release. "By combining Aruba's world-class wireless mobility solutions with HP's leading switching portfolio, HP will offer the simplest, most secure networking solutions to help enterprises easily deploy next-generation mobile networks."
The transaction is expected to close in the second half of HP's fiscal year 2015, subject to Aruba stockholder and U.S. regulatory approvals.
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