From the Boston Globe:

The long-rumored private equity buyout of 3Com Corp. came to fruition yesterday, as Bain Capital and Chinese networking company Huawei Technologies acquired the communications networking company for $2.2 billion in cash.

“We believe that this agreement better positions 3Com to establish itself as a global networking leader, which will benefit our employees, our customers, and our partners,” said 3Com president Edgar Masri. [Full Story]

See also the CNN story that warns that 3Com’s sale will allow China to more easily eavesdrop in the U.S. while making it harder for U.S. Intelligence tap into China’s networks.

[Image: 3Com sign. Lisa Poole/Associated Press/File 2007]