3Com to Pay $110M for Alteon Division

Has reached an agreement to acquire the gigabit Ethernet network interface card (NIC) business of Alteon WebSystems

November 16, 2000

1 Min Read

SANTA CLARA, Calif. -- In a bold move that positions 3Com as a worldwide leader in high-speed network connectivity, 3Com Corporation (Nasdaq: COMS) today announced it has reached an agreement to acquire the Gigabit Ethernet network interface card (NIC) business of Alteon WebSystems, a wholly owned subsidiary of Nortel Networks Corporation (NYSE/TSE: NT) for US$110 million in cash. Alteon WebSystems was among the first to ship Gigabit Ethernet solutions that run over today's copper cabling and with this acquisition 3Com emerges as a worldwide leader in this segment. This acquisition extends 3Com's leadership into the next generation of high-performance wired and wireless solutions that will span server, desktop and mobile computing platforms.

"Just as new PC applications are written to exploit advances in computing performance, networked applications will also be developed to leverage the bandwidth expansion made possible by Gigabit Ethernet technology," said Tom Werner, vice president and general manager of 3Com's Business Connectivity Group. "A decade from now nearly every PC will ship with Gigabit connectivity and 3Com intends to be the established leader."

http://www.3com.com/pressbox

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