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HP to acquire Aruba Networks in a $2.7 billion deal
Hewlett-Packard and Aruba Networks has entered a definitive agreement for HP to acquire Aruba, a provider of network access solutions for the mobile enterprise, for approximately USD 2.7 billion.
The equity value of the transaction is approximately USD 3.0 billion, and net of cash and debt approximately USD 2.7 billion. Both companies’ boards of directors have approved the deal. Aruba is a Sunnyvale-based company in wireless networking with approximately 1'800 employees. The company had revenues of USD 729 million in fiscal 2014, and has reported compound annual revenue growth of 30 percent over the last five years. The acquisition is expected to boost HP's networking business. Together, HP and Aruba aims to deliver next-generation converged campus solutions. This new combined organisation will be led by Aruba’s Chief Executive Officer Dominic Orr, and Chief Strategy and Technology Officer, Keerti Melkote, reporting to Antonio Neri, leader of HP Enterprise Group. “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 Meg Whitman, Chairman, President and Chief Executive Officer of HP. “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.” “Together with HP, we have a tremendous opportunity to become an even greater force in enterprise mobility and networking,” said Mr. Orr. “This transaction brings together Aruba’s best-of-breed mobility hardware and software solutions with HP’s leading switching portfolio. In addition, Aruba’s channel partners will have the opportunity to expand their businesses with HP offerings. Together, we will build on Aruba’s proven ‘customer first, customer last’ culture, creating an innovative, agile networking leader ideally positioned to solve our customers’ most pressing mobility, security and networking challenges.” The transaction is expected to close in the second half of HP’s fiscal year 2015.
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