3Com (News - Alert) will reportedly execute an initial public offering (IPO) of common stock of its wholly owned subsidiary TippingPoint. The company will file a registration statement related to the IPO by the end of 2007.
TippingPoint provides network-based intrusion prevention systems (IPS) and Digital Vaccine attack filter services for enterprises, government agencies, service providers and academic institutions.
Edgar Masri, 3Com's president and chief executive, believes this move will enable 3Com and TippingPoint to focus on their core strengths, target markets and strategic goals.
“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,” said Masri in a statement to the press.
Masri said this move also reinforces 3Com's commitment to its Open Services Networking (OSN) 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.
Following the IPO, 3Com intends to remain a majority TippingPoint shareholder and will reduce its ownership over time in subsequent transactions. TippingPoint results will be consolidated in 3Com’s quarterly and annual financial reports in accordance with GAAP for the foreseeable future.
3Com Corp. is a major provider of secure, converged voice and data networking solutions for enterprises of all sizes.
Anuradha Shukla is a contributing editor for TMCnet, covering call centers, CRM and information technology. To see more of her articles, please visit her columnist page.
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