Hewlett-Packard has announced a definitive agreement to buy Wi-Fi network gear maker Aruba Networks for a deal amount of $3 billion in equity value and net of cash and debt approximately $2.7 billion. Both companies believe that by combining the complementary product portfolios and go to market approaches, they will be able to accelerate revenue growth and strengthen the financial performance of the combined HP Networking Business.
The transaction is expected to close in the second half of HP’s fiscal year 2015.
“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,” said Meg Whitman, Chairman, President and Chief Executive Officer of HP.
Apart from this, HP had also acquired Britain’s Autonomy Plc in 2011 and technology outsourcing provider EDS in 2008. Aruba designs and delivers Mobility-Defined Networks that empower IT departments and GenMobile, a new generation of tech-savvy users who rely on their mobile devices for every aspect of work and personal communication.