3Com Finalizes Acquisition of TippingPoint Technologies, Inc.MARLBOROUGH, Mass. -- Creates Unparalleled Portfolio of Products, Solutions and Services for Delivery of Secure, Converged Networks The integration of the telephone system with IP-based data networks. See softswitch. (networking) converged network - A single network that can carry voice, video and data. for Enterprises of All Sizes 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) ), today announced that it has completed the acquisition of TippingPoint Technologies, Inc., located in Austin, Texas. TippingPoint is the leading provider of Intrusion Prevention See IPS and IDS. Systems (IPS (1) (Inches Per Second) The measurement of the speed of tape passing by a read/write head or paper passing through a pen plotter. (2) (IPS) (Intrusion Prevention S ) that deliver in-depth application protection, infrastructure protection and performance protection. As part of 3Com, TippingPoint accelerates 3Com's strategy for delivering secure, converged networks to enterprises of all sizes, and will expand 3Com's product portfolio with the addition of its award-winning intrusion prevention systems. On December 13, 2004, 3Com announced its intention to acquire TippingPoint. Today, at a special meeting of TippingPoint shareholders, the group approved the proposed acquisition. Under terms of the agreement, 3Com paid $47 cash per outstanding share of all TippingPoint stock. "The acquisition of TippingPoint creates unparalleled depth and breadth of product portfolio, providing enterprises of all sizes with best-in-class and open standards-based secure, converged network solutions," said Bruce Claflin 3Com president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Our products and solutions, backed by world-class, global sales, channels and services capabilities, deliver the industry's most compelling edge-to-core offering." TippingPoint, a division of 3Com With the acquisition final, TippingPoint will now be known as TippingPoint, a division of 3Com, and will maintain its principal base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army in Austin, Texas. TippingPoint's organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. will remain the same with TippingPoint CEO Kip kip 1 n. pl. kip See Table at currency. [Thai.] kip 2 n. 1. McClanahan reporting to 3Com CEO Bruce Claflin as president of the TippingPoint division. As a division of 3Com, TippingPoint is poised to continue its aggressive growth rate and benefit from 3Com's global support, distribution channels and alliances. TippingPoint's current sales force and channel partners will remain key elements in driving the division's success. 3Com's sales force and select, qualified 3Com partners will provide additional, global reach for TippingPoint's products. TippingPoint is widely recognized for enterprise security expertise and innovation in best-of-breed intrusion prevention systems. TippingPoint's in-line, high performance technologies offer network infrastructure, application and performance protection for all IP-based voice and data traffic. TippingPoint strengthens 3Com's enterprise-focused product portfolio and further demonstrates the company's commitment to delivering secure, converged network solutions. Together, 3Com and TippingPoint will bring to market the most advanced security and network infrastructure offerings, guided by a deep understanding of the challenges facing enterprises today. TippingPoint's award-winning, best-of-breed intrusion prevention systems complement 3Com's existing security, data and voice portfolio of products, and further 3Com's strategy for delivering secure, converged networks to enterprises of all sizes. TippingPoint Financial Performance "This acquisition comes on what would have been the last day of our fiscal fourth quarter. If TippingPoint had completed its quarter and fiscal year end as a standalone stand·a·lone adj. Self-contained and usually independently operating: a standalone computer terminal. company, we believe that we would have delivered very strong results, results that exceeded guidance and street expectations," stated Kip McClanahan. "We estimate that revenues for our fiscal fourth quarter through the close of the acquisition were approximately $13 million, which translates to a year-to-date performance of approximately $33 million in revenues." Delivering these results, TippingPoint drove over 33 percent sequential quarterly growth through the close. 3Com expects to provide additional insight into TippingPoint's un-audited performance in its upcoming earnings release on March 17, 2005. Additionally, TippingPoint continued to grow its impressive list of Fortune 500 customers, including adding two more Fortune 10 companies in this quarter. "We see these kinds of performance metrics Performance metrics are measures of an organizations activities and performance. Performance metrics should support a range of stakeholder needs from customers, shareholders to employees [1]. as proof of TippingPoint's continued success," commented Mr. Claflin. "We will continue that trend as we expand TippingPoint's reach." TippingPoint Shareholder Information 3Com will soon mail a letter of transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. and instructions to former holders of record of TippingPoint common stock to be used for the exchange of TippingPoint shares for the cash consideration. TippingPoint stockholders who own shares through a broker will be contacted by their broker. Former TippingPoint stockholders with further questions regarding the exchange of TippingPoint shares for the cash consideration should contact Mellon Investor Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the 3Com / TippingPoint paying agent Paying Agent An agent who accepts payments from the issuer of a security and then distributes the payments to the holders of the security. Also known as a "disbursing agent. , by telephone at (800) 777-3674. About 3Com Corporation 3Com is a leading provider of secure, converged voice and data networking solutions for enterprises of all sizes. 3Com offers a broad line of innovative products backed by world class sales, service and support, which 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" delivering business value for its customers. When customers exercise choice, their choice is 3Com. For further information, please visit www.3com.com, or the press site www.3com.com/pressbox. Copyright (C) 2005 3Com Corporation. 3Com and the 3Com logo are registered trademarks and Exercise Choice is a trademark of 3Com Corporation. TippingPoint Technologies is a registered trademark of TippingPoint. All other company and product names may be trademarks of their respective holders. This press release includes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein include statements about the acquisition of TippingPoint by 3Com and the benefits of the acquisition. These statements are subject to inherent risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, among others, the ability to realize the anticipated benefits or synergies of the transaction in a timely manner or at all. Additional information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the uncertainty affecting TippingPoint's and 3Com's businesses are contained in their filings with the Securities and Exchange Commission. |
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