Dell outbids HP with $1.6 billion offer for 3Par

Posted on Thursday, August 26 2010 @ 18:36 CEST by Thomas De Maesschalck

Dell has secured a deal to acquire data storage company 3Par for $1.6 billion. Last week Dell offered the firm $1.13 billion, but the Round Rock computer maker got outbid by a $1.5 billion offer from HP.

Dell says its new offer of $24.30 a share has been accepted by 3Par, following a battle for the company with rival Hewlett Packard (HP).

The new agreement values 3Par at $1.6bn (£1bn), matching an earlier offer tabled by HP on Monday.

Dell said the deal would "dramatically accelerate" 3Par's revenue growth.

More info at BBC News.

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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