3Com Announces a Proposed Initial Public Offering of TippingPoint.MARLBOROUGH, Mass. -- 3Com Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : COMS COMS 3Com Corporation (stock symbol) COMS Certified Orientation and Mobility Specialist COMS Continuous Opacity Monitoring Systems COMS City of Manchester Stadium (UK) ) today announced its intention to execute an initial public offering (IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. ) of common stock of its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. TippingPoint. TippingPoint is a leading provider of network-based intrusion prevention See IPS and IDS. systems (IPS) and Digital Vaccine attack filter services for enterprises, government agencies, service providers and academic institutions. 3Com expects to file a registration statement related to the IPO by the end of the calendar year. "We believe this move will enable 3Com and TippingPoint to focus on their core strengths, target markets and strategic goals," said Edgar Masri, 3Com's President and Chief Executive Officer. "The decision to IPO TippingPoint enables 3Com to focus more closely on its core business - delivering integrated secure, converged network infrastructure solutions to enterprises and increasing H3C sales worldwide. This move also reinforces 3Com's commitment to its Open Services Networking (OSN OSN Ocular Surgery News OSN Obras Sanitarias de la Nación (Argentina) OSN Online Social Network OSN Oregon Sports Network OSN Organic Solvent Nanofiltration OSN On Sale Now OSN One Stop Notification ) strategy of providing organizations worldwide with high-quality, low-cost, secure networking infrastructure solutions that enable the convergence of applications and emerging technologies into the network." 3Com intends to remain a majority TippingPoint shareholder following the IPO and plans to reduce its ownership over time in subsequent transactions. 3Com will consolidate TippingPoint results in its quarterly and annual financial reports in accordance with GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). for the foreseeable future. A registration statement relating to these securities has not been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers be accepted prior to the time a registration statement is on file and becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities. Forward Looking Statements This press release contains forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including the proposed initial public offering of TippingPoint. This statement is neither a promise nor guarantee, but involves risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including, without limitation, risks relating to our ability to consummate our announced initial public offering of TippingPoint, which is dependent on market conditions, TippingPoint's business and operations. 3Com Corporation does not intend, and disclaims any obligation, to update any forward-looking information contained in this release or with respect to the announcements described herein. Copyright (c) 2007 3Com Corporation. 3Com, the 3Com logo and Digital Vaccine are registered trademarks and TippingPoint is a trademark of 3Com Corporation. All other company and product names may be trademarks of their respective holders |
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