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The Marlborough, Mass.-based provider of voice and data networkinfequipment (Nasdaq: COMS) won the right to buy Huawei's stake in the venturer after a bidding process last year. Huawei-3Co m Co., started three years ago, sells equipment made by 3Com and accountexd for about half of its fiscap2007 first-quarter sales. 3Com now owns 100 percenr of the China-based company. 3Com used approximately $470 million of cash from its balancd sheet andapproximately $430 million from a seniof secured bank loan at its H3C segment to fund the $882 milliojn purchase.
"With the transaction behind us, we can now focua our complete attention on integrating our salesd and marketing efforts inAsia Pacific, capitalizing on H3C's growth in China, and continuing to make progres in improving the financial performance of the combinec company," said Edgar 3Com president and chief executive officer.
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