HP Isn’t Letting 3PAR Go, Ups Offer to $1.8B

HP and Dell are continuing to salvos over 3PAR, a player in storage technology aimed at virtualized data centers and cloud computing for whom each is willing to pay more than a billion dollars.

But who wants 3PAR (NYSE: PAR) more? Dell started the acquisition fight earlier this month, but HP threw its hat into the ring this week with a higher offer. Dell fired back today — upping its initial bid, but HP doesn’t appear willing to let this one go: It’s new bid has hit $1.8 billion.

And no wonder: Enterprise customers undertaking massive IT projects to move into the cloud and to virtualize their infrastructure should be willing to pay handsomely for the sorts of technologies 3PAR offers — at least, that’s the thinking. Enterprise Storage Planet has the story.

Not to be outbid by rival Dell, HP has once again raised its acquisition offer for 3PAR, this time to $27.00 per share in cash, or an enterprise value of $1.8 billion.

HP’s (NYSE: HPQ) new proposal is 11 percent higher than this morning’s $24.30 per share, $1.6 billion offer from Dell (NASDAQ: DELL).

Read the full story at Enterprise Storage Planet:

HP Fires Back, Offers $1.8 Billion for 3PAR

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