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U S Robotics Corp

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BUSINESS
March 6, 1998 | Bloomberg News
3Com Corp. said it is revising previously reported financial results because of a Securities and Exchange Commission review of its filings after its acquisition of U.S. Robotics Corp. 3Com Chief Financial Officer Chris Paisley said in a statement that the company will also be revising its first- and second-quarter filings for fiscal 1998 as soon as possible. The Santa Clara-based networking company will reduce the restructuring charge for U.S.
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BUSINESS
March 6, 1998 | Bloomberg News
3Com Corp. said it is revising previously reported financial results because of a Securities and Exchange Commission review of its filings after its acquisition of U.S. Robotics Corp. 3Com Chief Financial Officer Chris Paisley said in a statement that the company will also be revising its first- and second-quarter filings for fiscal 1998 as soon as possible. The Santa Clara-based networking company will reduce the restructuring charge for U.S.
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BUSINESS
February 27, 1997 | LESLIE HELM and JULIE PITTA, TIMES STAFF WRITERS
In a surprise move that reflects intensifying competition and consolidation in the rapidly growing $24-billion computer networking business, Santa Clara, Calif.-based 3Com Corp. said Wednesday that it will acquire modem giant U.S. Robotics Corp. for about $7.33 billion in stock. With the purchase, 3Com would have 12,000 employees and annual sales of about $5 billion, putting it on par with networking leader Cisco Systems Inc.
BUSINESS
February 27, 1997 | LESLIE HELM and JULIE PITTA, TIMES STAFF WRITERS
In a surprise move that reflects intensifying competition and consolidation in the rapidly growing $24-billion computer networking business, Santa Clara, Calif.-based 3Com Corp. said Wednesday that it will acquire modem giant U.S. Robotics Corp. for about $7.33 billion in stock. With the purchase, 3Com would have 12,000 employees and annual sales of about $5 billion, putting it on par with networking leader Cisco Systems Inc.
BUSINESS
August 16, 2005
As expected, Platinum Equity, a buyout company owned by billionaire Tom Gores, agreed to acquire struggling computer modem maker U.S. Robotics Corp. Terms weren't disclosed.
BUSINESS
November 2, 1996 | Times Staff and Wire Reports
Skokie, Ill.-based U.S. Robotics Corp. said it will lay off as many as 600 workers, or about 10% of its work force, to cut costs. . . . Richmond, Va.-based Circuit City Stores Inc. said it plans to create a second series of common stock to track the separate performance of its CarMax used- and new-car retail operations. . . . San Francisco-based BankAmerica Corp. plans to cut 80 jobs, or 10% of the work force, in its brokerage unit, BA Investment, mainly by automating administrative duties. . .
BUSINESS
May 13, 1997 | (Reuters)
The hand-held computer, long seen as an expensive toy, is finally maturing into a necessity for executives, research firm Dataquest reported. Shipments of hand-held computers jumped a surprising 29% in 1996, led by strong sales of U.S. Robotics Corp.'s Pilot, and are expected to rise an additional 23% in 1997, San Jose-based Dataquest said. Worldwide shipments of hand-held computers rose to 1.6 million units in 1996.
BUSINESS
April 15, 1997 | (Bloomberg News)
3Com Corp. said it will reorganize after its planned $6.6-billion takeover of modem maker U.S. Robotics Corp., which is expected to be completed this summer. The Santa Clara company also announced that its president, Bob Finocchio, will leave on May 31 for personal reasons. The maker of computer networking equipment plans to create three business units to correspond to its major markets. The enterprise systems unit will produce products for large corporations.
BUSINESS
July 31, 1997 | (Bloomberg News)
3Com Corp. said weak demand in Europe and the integration of recently acquired U.S. Robotics Corp. will clip profit margins in the current quarter. Analysts and investors said the maker of computer networking equipment told them that profit margins and sales will pick up later this year. Santa Clara-based 3Com refused to allow reporters to attend its Network Connections Conference briefing. 3Com stock fell $2.25 to close at $55.75 on Nasdaq. Earlier, the shares had traded as low as $54.63.
BUSINESS
August 29, 1997 | Reuters
Computer networking company 3Com Corp. said in a filing with federal regulators that it expects to incur restructuring charges of up to $375 million as a result of its merger with U.S. Robotics Corp., a maker of computer modems. The Santa Clara company and Skokie, Ill.-based U.S. Robotics completed their multibillion-dollar merger in June. 3Com said the nonrecurring costs will be charged to operations in its fiscal first quarter, which began June 1.
BUSINESS
February 14, 1997 | Times Staff and Wire Reports
Motorola Inc. settled its litigation against Seal Beach-based Rockwell International Corp. concerning alleged infringement of certain Motorola modem technology, and it brought a similar suit against Skokie, Ill.-based U.S. Robotics Corp. in U.S. District Court in Boston. As part of the settlement, Rockwell received a license for the patents involved. Schaumburg, Ill.-based Motorola sued U.S. Robotics, the biggest maker of desktop modems, charging that U.S.
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