Hewlett-Packard Co is in talks to buy wifi network gear maker Aruba Networks Inc and a deal may be announced as soon as next week, Bloomberg reported, citing people with knowledge of the matter.
The talks with Aruba, which has a market cap of $2 billion, are not complete and might still fall through, Bloomberg said. (http://bloom.bg/1EsKm4Z)
HP declined to comment. Aruba Networks did not immediately respond to a request for comment.
HP, which has struggled to adapt to the new era of mobile and online computing, is preparing to split into two listed companies this year, separating its computer and printer businesses from its corporate hardware and services operations.
Aruba shares jumped 25 percent to $23 in evening trading on the Nasdaq. HP`s stock fell 9.8 percent to $34.70 on the New York Stock Exchange.
