Boston-based Bain Capital Partners LLC and China’s Huawei Technologies have put their proposed $2.2 billion purchase of Marlborough-based 3Com Corp. on hold.
According to 3Com, the three parties will continue discussions, but have withdrawn their joint filing from the Committee on Foreign Investment in the United States (CFIUS), which had reportedly raised national security concerns surrounding the deal. 3Com, Bain and Huawei will try to put together a merger agreement that would allay some of the CFIUS’ concerns, according to 3Com.
The companies announced the merger agreement in late September and expected the deal to be closed during the first quarter of this year. Under the merger, 3Com, a voice and data networking equipment company, would have been bought by Bain and Huawei for $2.2 billion and Bain would have owned a minority stake in Huawei.
