Dell back in the game to take over 3PAR

By siliconindia   |   Friday, 27 August 2010, 15:03 IST   |    3 Comments
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Dell back in the game to take over 3PAR
Bangalore: Computer maker Dell said that its higher acquisition offer of $24.30 per share has been accepted by 3PAR, surpassing the competing bid from rival HP. On August 16, Dell had announced that it would buy 3PAR for $18 per share, valuing the company at $1.15 billion. Soon, HP came up with a higher offer of $24 per piece to compete with Dell. Recently Dell said in a statement that 3PAR has accepted its increased offer to acquire the storage leader for $24.30 per share in cash, or approximately $1.6 billion, net of 3PAR's cash. 3PAR offers services and products with advanced data management features for different cloud-computing environments. According to the statement, Dell and 3PAR have signed an amendment to the agreement reflecting the new offer price. The transaction is expected to be complete before the end of this year. Once the deal is over, 3PAR would become a wholly-owned subsidiary of Dell. "With the 3PAR acquisition, Dell will have the broadest set of differentiated storage solutions in the market today," Dell Senior Vice-President Dave Johnson said.

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