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3Com Announces a Proposed Initial Public Offering of TippingPoint


3Com Corporation (NASDAQ: COMS) today announced its intention to execute an initial public offering (IPO) of common stock of its wholly owned subsidiary TippingPoint. TippingPoint is a leading provider of network-based intrusion prevention systems (IPS) and Digital Vaccine attack filter services for enterprises, government agencies, service providers and academic institutions. 3Com expects to file a registration statement related to the IPO by the end of the calendar year.

“We believe this move will enable 3Com and TippingPoint to focus on their core strengths, target markets and strategic goals,” said Edgar Masri, 3Com’s President and Chief Executive Officer. “The decision to IPO TippingPoint enables 3Com to focus more closely on its core business - delivering integrated secure, converged network infrastructure solutions to enterprises and increasing H3C sales worldwide. This move also reinforces 3Com’s commitment to its Open Services Networking (OSN) strategy of providing organizations worldwide with high-quality, low-cost, secure networking infrastructure solutions that enable the convergence of applications and emerging technologies into the network.”

3Com intends to remain a majority TippingPoint shareholder following the IPO and plans to reduce its ownership over time in subsequent transactions. 3Com will consolidate TippingPoint results in its quarterly and annual financial reports in accordance with GAAP for the foreseeable future.

A registration statement relating to these securities has not been filed with the Securities and Exchange Commission. These securities may not be sold nor may offers be accepted prior to the time a registration statement is on file and becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities.

Forward Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including the proposed initial public offering of TippingPoint. This statement is neither a promise nor guarantee, but involves risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including, without limitation, risks relating to our ability to consummate our announced initial public offering of TippingPoint, which is dependent on market conditions, TippingPoint’s business and operations. 3Com Corporation does not intend, and disclaims any obligation, to update any forward-looking information contained in this release or with respect to the announcements described herein.


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