HP has completed the acquisition of 3PAR, fully concluding its previous bidding war against Dell.
The enterprise value was at $2.35bn or $33 per share.
3PAR offers a virtualised utility storage platform that allows its users to drive down cloud computing infrastructure, storage and management costs. It had been competing with companies such as IBM, EMC and Hitachi.
Dell initially made a bid for 3PAR to expand its own data storage portfolio. It offered $1.13bn.
However, HP countered that offer, leading to a fast-paced bidding war to acquire the firm.
The price rose to $33 per share and at that point, Dell gave in, letting HP purchase 3PAR.
3PAR will become part of the HP Converged Infrastructure portfolio, which integrates servers, storage, networking and management technologies.
HP hopes that the acquisition will help them simplify data centre environments for clients.
The acquisition was completed by means of a tender offer by a HP subsidiary for all the outstanding shares of 3PAR, followed by the merger of that purchasing subsidiary with 3PAR.
The tender offer expired at midnight, New York City time on 24 September. At that time, about 55.8 million shares, which is about 87.8pc of 3PAR’s outstanding shares, were tendered.
HP completed the merger with 3PAR following the exercise of the top-up option contemplated by the merger agreement.
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