Sunday, August 22, 2010

HP Bids $24 per Share for 3PAR, Topping Dell

HP announced a bid to acquire 3PAR, a supplier of highly-virtualized storage solutions, for $24 per share in cash. The deal values 3PAR at $1.6 billion, providing a 33% premium over the acquisition offer made by Dell last week.


HP said the addition of 3PAR's next-generation storage architecture will accelerate its Converged Infrastructure strategy, which provides customers with an unmatched portfolio of intellectual property across storage, server and networking solutions.


"HP's proposal offers superior value to 3PAR's shareholders. Our global reach, strong routes to market and commitment to innovation uniquely position HP as the ideal fit for 3PAR," said Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP. "We've seen great momentum with our Converged Infrastructure strategy, and 3PAR accelerates that strategy, particularly in cloud and scale-out markets."http://www.hp.com/investor/home.

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