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3Com closes Call Technologies acquisition

After the bell Tuesday, network-equipment maker 3Com announced it had completed its $90 million acquisition of Call Technologies.

3Com (Nasdaq: COMS) shares closed off 5 3/16, or 10 percent, to 44 9/16 ahead of the announcement.

3Com announced the deal March 20.

Call Technologies is a Reston, Va.-based developer of unified messaging systems that allow user to access voice, fax, email and digital messages from their phone or wireless information device.

Excluding a charge for in-process technology in the fourth fiscal quarter, the acquisition is not expected to have a material impact on fiscal 2000 results.

In its latest quarter, 3Com earned $97.4 million, or 27 cents a share, on sales of $1.4 billion.

Its shares climbed as high as 119 3/4 in February ahead of initial public offering for its Palm Inc. (Nasdaq: PALM) spin-off.

Fourteen of the 28 analysts following the stock call it a "hold."