The economy is bad and that might make you think that companies in markets like computers that are seeing some of the worst quarters ever would be saving money. Not HP, the world’s largest computer shipper is spending a huge amount of money to purchase 3Com.

HP has announced that its board of directors and the 3Com board of directors have both agreed to allow HP to buy 3Com at $7.90 per share for all outstanding shares of 3Com stock. That price totals $2.7 billion for the company.

Deutsche Telekom’s T-Mobile and France Telcom’s Orange have announced Tuesday that they plan to merge the two mobile phone carriers, making them the largest carrier in the U.K. once combined. Currently T-Mobile and Orange are the 3rd and 4th largest mobile operations in Britain behind O2 and Vodafone. The merger would launch the combined companies into the number one spot with 28.4 million mobile phone users and a 37 percent market share, leaving O2 trailing with 27 percent and Vodafone 3rd with 25 percent of the mobile market in Britain.

The merger involves plans to maintain their own distinct brands for the first year and a half and then agree on one common brand which could be one of the two existing or something completely new. The two companies will also start streamlining their operations by eliminating overlapping administration, retail stores and base stations with lay-offs likely in the near future.