Printer Ink Maker Dell Improves Offer For 3PAR

2010-08-27 16:23:44

Published on 2010-08-27 16:23:44

Printer ink maker Dell has said that it has increased its offer to acquire the data storage firm 3PAR.

The firm's offer for 3PAR stands at $24.30 (£15.70) per share in cash, or around $1.6 billion (£1.03 billion).

Dell has said in a statement that the storage solutions leader has accepted the offer.

Dell had previously inked a deal to acquire 3PAR for $18 per share (£11), but, being trumped by rival Hewlett Packard, became embroiled in a bidding war.

It believes its improved offer will seal the deal.

The acquisition will form part of Dell's strategy, active over several years, of providing its data centre customers with a range of storage systems. 3PAR, which will become a subsidiary of Dell, will help to expand this plan.

Dave Johnson, senior vice president of Dell corporate strategy, said: "Storage is at the forefront of this strategy.

"With the 3PAR acquisition, Dell with have the broadest set of differentiated storage solutions in the market today."

Formed in 1984, Dell has its headquarters in Texas, US.

Posted by Canzil Ahmed.

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