Storage Giants Circling 3Par: Report
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An article in Barron's suggests that some big names in enterprise storage could be eying 3Par thanks to its focus on the high-end storage market. But not everyone agrees. Enterprise Storage Forum takes a look.
3Par shares took flight Monday after a Barron's article identified the utility storage company as a viable takeover target for leading storage software vendors including the likes of NetApp, HP or IBM.
The company made a name for itself by pioneering thin provisioning and developing a clustered storage architecture that the company claims can save users half on their storage costs. 3Par calls its technology "Utility Storage."
The Barron's article suggested that 3Par could be a beneficiary of renewed IT spending, and with $100 million in cash and little debt, it has weathered the Great Recession in fine shape. Analysts expect the company to grow revenues 22 percent to $236 million in its fiscal year ending March 2011, according to Thomson Reuters.