As HP prepares to split itself into two, the company is in the process of acquiring Aruba Networks, a publicly traded seller of Wi-Fi hardware and software for major companies, according to a new report today.

The deal is still in the works and could fall through, although it may well end up being finalized and announced as early as next week, Bloomberg reported.

Aruba, based in Sunnyvale, California, brought in $2.7 million in earnings on $207.8 million in revenue in the quarter that ended on Oct. 31, according to a quarterly earnings statement filed in December. On Oct. 31 the company had more than 1,700 employees.

Aruba started in 2002. It competes with Cisco, among others, in the wireless local area network (LAN) market. Aruba works with several channel partners, including Dell.

In 2010 Aruba bought mesh network hardware provider Azalea.

HP and Aruba representatives did not immediately respond to VentureBeat’s requests for comment.

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