SAN FRANCISCO — Hewlett-Packard Co. has agreed to acquire Aruba Networks Inc., a maker of wireless-network infrastructure used by hotels, universities and shopping malls, for $2.7 billion in cash to bolster its networking business.
Aruba investors will get $24.67 per share, the companies said Monday in a statement. With debt and cash, the deal has a value of $3 billion.
This is the largest acquisition in several years for Hewlett-Packard, where Chief Executive Officer Meg Whitman has been focused on cutting costs and returning the business to growth. Hewlett-Packard is planning to split itself in two later this year, with Whitman remaining in charge of the business focused on corporate customers.
Aruba makes hardware and software used to build wireless computer networks for customers, including China’s Dalian Wanda Group Co., which uses the technology in shopping malls.