3Com on the block?
- 18 July, 2007 14:45
The Deal Journal blog on The Wall Street Journal site is reporting that 3Com has recently been approached by possible buyers, including private-equity firms Silver Lake Partners and Bain Capital. Silver Lake was one of the recent buyers of Avaya, which went private in an $8.2 billion deal.
Nortel is also interested in the company, Deal Journal states, citing unnamed sources. Nortel is looking to build up its enterprise presence, among others, as it rebounds from an accounting scandal and management shakeup.
3Com is in a deal-making mode of late. The company recently announced plans to spin out its TippingPoint subsidiary by publicly offering stock in the company. 3Com also bought Huawei's share of the 3Com/Huawei joint venture, H3C, for $882 million.
3Com, Nortel and Bain declined comment. Silver Lake was not immediately available for comment.