Monday, August 23, 2010

HP Counters Dell On 3PAR Acquisition

HP, which is based in Palo Alto, California, is challenging Round Rock-based Dell on its acquisition of data storage technology developer 3PAR. HP said this morning that it is making a competing offer to acquire 3PAR, offering $24.00 per share in cash for 3PAR, a 33.3 percent higher bid than offered by Dell August 16th. HP said the new offer makes 3PAR worth roughly $1.6 billion. 3PAR is a developer of storage virtualization technology used in virtualized data centers and in cloud computing.