Chinese Hackers Kill 3Com Buyout


	Chinese Hackers Kill 3Com Buyout

Andy Greenberg

3-20-2008 4:01 PM

355 views

tags:

bain, huawei, 3com, china, hackers

Andy Greenberg says:

China's government should take notice: Concerns over China's cyberspying are starting to stifle more than US-China relations--they're also hampering China's beloved economic development.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/33f24350-4eda-491d-8026-75684332dca1/7C4852A4-008A-456E-840D-E36E65AC62B7/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html" href="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html" style="font-size: 11px;">online.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html"><H1 class="articleTitle">Bain Drops Buyout of 3Com</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html"><P class="times">Bain Capital Partners LLC said it is terminating its proposed $2.2 billion buyout of <A href="http://online.wsj.com/quotes/main.html?type=djn&symbol=coms" class="times rolloverQuote">3Com</A> Corp. after a U.S. government panel said it would take action to prohibit the transaction on national-security grounds.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html"><P class="times">The news, which came a day after 3Com said the deal's principals hadn't agreed on a revised deal that would pass muster with national-security officials, sent 3Com shares down sharply.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html">3Com, Bain and <A href="http://online.wsj.com/quotes/main.html?type=djn&symbol=HWI.YY" class="times rolloverQuote">Huawei Technologies</A> Co. last month withdrew an application filed with CFIUS after the panel made it clear it would block the deal as originally proposed. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article_email/SB120603627253952409-lMyQjAxMDI4MDI2MDAyMzA2Wj.html"><P class="times">Although it is a relatively small player in the networking market, 3Com sells anti-hacking and other network-security services to the Defense Department. The U.S. has been particularly sensitive about foreign ownership of communications assets, especially in light of repeated attempts to hack the nation's defense systems. Chinese-based hackers are viewed as a major concern.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7C4852A4-008A-456E-840D-E36E65AC62B7/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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