HP has raised its offer to acquire 3PAR to US$27 per share, boosting 3PAR’s value at US$1.8bn. This bid came shortly after Dell’s bid of US$24.30 per share.
This offer jumped up from Dell’s initial offer of $1.13bn, or $18 per share.
3PAR offers a virtualised utility storage platform, which allows users to drive down cloud computing infrastructure, storage and management costs.
Both Dell and HP see this as a highly profitable asset in the developing cloud computing market.
David Donatelli, head of Enterprise, Servers, Storage and Networking in HP, believes the company is in a better place to work with 3PAR.
"Not only is our offer superior to Dell’s proposal, HP remains uniquely positioned to execute on this combination given the number of synergies between the two companies," he said.
Dell has not yet made a new offer.
"We’ll take some time, assess the situation and act in the best interests of our customers and shareholders," said a Dell spokesperson.