By Tess Stynes
Hewlett-Packard Co. agreed to buy Aruba Networks Inc. for about
$2.7 billion in an all-cash deal aimed at bolstering the tech
company's wireless networking operations.
Aruba--based in Sunnyvale, Calif.--had revenues of $729 million
last year, and it has reported compound annual revenue growth of
30% over the past five years, Hewlett-Packard said.
The deal values Aruba at $24.67 share, or about $3.0 billion,
including cash and debt. Both companies' boards of directors have
approved the deal.
Write to Tess Stynes at tess.stynes@wsj.com
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