Hewlett-Packard (HPQ), the PC-maker and software solutions company, announced Monday it would acquire the network equipment firm Aruba Networks (ARUN) for $24.67 per share, according to a statement from the firms.
The deal, which had been rumored since last week, will cost HP $3 billion when Aruba’s debt load is factored in.
The Palo Alto, Calif., firm is already planning to split into two separate, publicly-traded firms, with one half taking on the printers and PC business, while the other handles software infrastructure and services. Aruba will complement HP’s already leading network infrastructure business.
“Enterprises are facing a mobile-first world and are looking for solutions that help them transition legacy investments to the new style of IT,” said Meg Whitman, Chairman, President and Chief Executive Officer of HP in a statement. “By combining Aruba’s world-class wireless mobility solutions with HP’s leading switching portfolio, HP will offer the simplest, most secure networking solutions to help enterprises easily deploy next-generation mobile networks.”