3Com Announces Completion of the Sale of CommWorks Assets; Company Maintains Rights to Intellectual Property to Apply to Further Expansion in Enterprise Networking.Business Editors/High-Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--May 23, 2003 3Com Corporation (Nasdaq:COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ) announced the completion of the sale of selected assets of its CommWorks carrier business to UTStarcom for approximately $100 million in cash subject to closing adjustments. As part of the transaction, 3Com has maintained a license for all of the patents and intellectual property (IP) transferred to UTStarcom. "With the close of this sale, 3Com is a dedicated enterprise networking The networking infrastructure in a large enterprise with multiple computer systems and networks of different types is extraordinarily complex. Due to the myriad of interfaces that are required, much of what goes on has little to do with the real data processing of the payroll and orders. company, with a laser-like focus on meeting the needs of the enterprise customer," said Dennis Connors, 3Com executive vice president of operations. 3Com offers innovative, feature-rich products and solutions that excel at Verb 1. excel at - be good at; "She shines at math" shine at excel, surpass, stand out - distinguish oneself; "She excelled in math" lower cost of ownership. With a strong balance sheet and increased focus on solutions for enterprise customers, 3Com is well positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its already compelling position in enterprise networking. About 3Com 3Com is a tier-one provider of innovative, practical and high-value voice and data networking products, services and solutions for enterprises of all sizes and public sector organizations. For further information, please visit www.3com.com, or the press site www.3com.com/pressbox. |
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