Reginal Thomas
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HP to buy Wi-Fi gear maker Aruba Networks for $2.7 billion

Hewlett Packard Co. said it would acquire Wi-Fi network gear maker Aruba Networks Inc. for $2.7 billion. HP has a dismal purchases, having written off multibillion-dollar deals of Autonomy and technology outsourcing provider EDS, which it bought in 2008. With the purchase, HP is boosting its shares of the wireless local area network market as more companies allow employees to access work systems through their wireless devices. HP has a 4.5% share of the market while Aruba has 10-13%. The offer of $24.67 per share is a premium of 34.4% to Aruba's closing price on Feb. 24th.