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3Com Buys TippingPoint for $430 Million

The consolidation of the service control market is picking up more steam. 3Com Corp. announced earlier today that it will buy TippingPoint Technologies, a network security firm specializing in intrusion prevention systems, for $430 million in cash. 3Com said it plans to operate TippingPoint as a separate division, with TippingPoint CEO Kip McClanahan becoming division president. 3Com aims to close the deal before the end of its fiscal third quarter in late February. The move by 3Com comes a week after the company warned that its fiscal second quarter loss will be much greater than Wall Street analysts anticipated. 3Com's TippingPoint deal also follows rival Cisco Systems' purchase of service control switching start-up P-Cube Inc. for $200 million in late August.
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