The competition is getting thick for 3PAR, a leading player in storage technology that caters to virtualized and cloud-based environments.
First came Dell’s $1.15 billion bid earlier this month. Dell shrewdly included in that agreement a provision that would give it the chance to match competing bids, perhaps knowing that one of its principal rivals wasn’t about to sit by and let it snatch up a gem in the cutting-edge storage technology field.
And so the competing bid came. HP swooped in with a $1.6 billion offer. Dell matched. Then HP upped the ante to $1.8 billion. Now, Dell has matched that offer, and experts believe the bidding war for 3PAR could escalate past $2 billion. Enterprise Storage Forum takes a look.
It’s a back-and-forth worthy of center court at Wimbledon. Dell matched HP’s latest bid for storage vendor 3PAR early this morning with a $1.8 billion offer of its own, putting the ball back in HP’s court.
Dell (NASDAQ: DELL) announced today that 3PAR (NYSE: PAR) has accepted its increased offer to acquire the storage leader for $27.00 per share in cash, or approximately $1.8 billion, net of 3PAR’s cash. The new Dell-3PAR accord was reached under a provision in the existing agreement between the companies that allows Dell to match competing bids.