Bidding war for 3PAR escalates

26 Aug 2010

Dell has upped its offer for 3PAR to US$24.30 per share, following HP’s recent offer of US$24 per share.

Dell had initially offered US$18 per share before HP came in, offering 33pc higher than Dell.

3PAR then put pressure on Dell, giving the company three days to make a new offer or else it would accept HP’s offer.

3PAR offers a virtualised utility storage platform that allows its users to drive down cloud computing infrastructure, storage and management costs.

Dell wishes to obtain the company in order to add it to its existing data storage portfolio. It acquired EqualLogic to add to this plan in 2007.

However, HP too wants to bolster its storage offerings. The company purchased LeftHand Networks for $360m in 2008.

HP have yet to respond to this latest update, however, considering how Dell’s current bid is only slightly higher than HP’s offer, the bidding war may not be over yet.