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17 August 2010 ,
Written by Dhruv Tanwar
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Dell has signed an agreement to acquire 3PAR, a provider of highly-virtualized storage solutions with advanced data management features, in a transaction valued at approximately $1.15 billion net of 3PAR’s cash.
Under the terms of the agreement, Dell will commence a tender offer to acquire all of the outstanding common stock of 3PAR for $18 per share in cash. The transaction, subject to customary closing conditions, is expected to close before the end of the year.
The acquisition, Dell said, would extend its storage capabilities, enabling the computer maker to help customers capitalize on the ‘Virtual Era,’ with a goal of reducing overall data management costs by 50 percent. 3PAR provides a virtualized, utility storage platform addressing limitations of monolithic and modular arrays, which Dell says is instrumental in reducing storage administration costs by up to 90 percent and infrastructure costs by up to 75 percent.
Founded in 1999, 3PAR is headquartered in Fremont. Dell said that after the transaction closes, it plans to maintain and invest in additional engineering and sales capability and has no plans presently to move the current operations. Dell intends to make 3PAR an integral part of its storage portfolio, including PowerVault, EqualLogic and Dell/EMC. With 3PAR, Dell will offer innovative systems and customer choice at every storage tier, from direct-attach to highly-virtualized, clustered SANS. |