That's it. Bain Capital Partners and China's Huawei Technologies have thrown in the towel and abandoned their bid to buy 3Com blaming security concerns of the U.S. government, which is shuddering at the thought of one of its networking equipment suppliers being owned by a China-based company that has strong ties with the country's government. Bain and Huawei first announced their intention to buy 3Com for $2.2B last September but the U.S. Committee on Foreign Investment in the United States (CFIUS) has made it difficult for the deal to go ahead. 3Com had even offered to sell off its network security software division Tipping Point to sweeten the deal for the U.S. government but that appeared not to have helped. What will 3Com do now?
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