HP still seen looking for deals after 3Com

* Competitive pressures rising in tech with flurry of M&A

* Analyst say HP could pursue more networking deals

* Storage, software also seen as attractive to HP

* Brocade shares plunge 13 pct, unlikely target after 3Com

By Gabriel Madway

SAN FRANCISCO, Nov 12 (Reuters) - Hewlett-Packard Co's (HPQ.N) $3.1 billion play for 3Com Corp (COMS.O) will help the technology giant expand its product portfolio amid rapid industry consolidation -- and few think HP is done shopping.

HP's deal for 3Com should allow it to better compete with networking leader Cisco Systems Inc (CSCO.O), analysts say, as HP pushes to become a soup-to-nuts provider of technology products and services.

Wall Street largely applauded the acquisition as a low-risk move by HP to add a complementary product line, bolster its range of offerings, and get welcome exposure to the China market. [ID:nN11380084]

HP's deal-making is expected to continue even though the company is still digesting last-year's $13 billion acquisition of IT services company EDS.