H-P to Buy Aruba Networks for $2.7 Billion

Hewlett-Packard agreed to acquire wireless-networking company Aruba Networks Inc. in a deal valued at roughly $2.7 billion, expanding H-P’s capabilities in the mobile market. H-P is offering $24.67 a share, a 1 percent discount to Aruba Network’s close on Feb 27, when the stock reached the highest level in nearly two years following a report about a possible deal. Including cash and debt, the companies valued the deal at roughly $3 billion. H-P Chairman and Chief Executive Meg Whitman said the deal will combines Aruba’s wireless mobility solutions with H-P’s switching portfolio, allowing the company to offer most secure networking solutions to help enterprises easily deploy next-generation mobile networks.