HP enters bidding war with Dell over 3Par

Posted on Monday, August 23 2010 @ 20:37 CEST by Thomas De Maesschalck

Last week Dell announced it would acquire data storage provider 3Par for $1.13 billion, but today HP tops Dell's offer with a $1.5 billion bid.

In 3Par they are bidding for a company that provides software for organizing data on corporate servers. The company, which is based in Fremont, Calif., offers its products on a subscription basis over the Web, an approach known as "cloud computing."

HP, based in Palo Alto, Calif., said Monday it will pay $24 per share for the company, a 33 percent premium over Dell's bid of $18 per share.

More details at AP.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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