HP Fires Back, Offers $1.8 Billion for 3PAR

Enterprise Storage Forum content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

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).

“Our revised proposal offers superior value to 3PAR’s shareholders, while maintaining our disciplined approach to only pursuing acquisitions that we believe will strengthen our portfolio and create long-term value for our shareholders,” Dave Donatelli, HP’s executive vice president and general manager, Enterprise Servers, Storage and Networking, said in a statement. “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.”

Dell upped its bid for storage vendor 3PAR today, besting HP’s last bid by a slim margin of $0.30 per share in cash.

Dell raised its offer after HP (NYSE: HPQ) sparked a bidding war over 3PAR with a $24.00 per share, $1.6 billion offer of its own earlier this week.

3PAR’s claim to fame is its “utility storage” systems, which are based on a multi-tenant, clustered storage architecture that supports the delivery of software and hardware as a service for virtualized data centers and cloud computing.

Follow Enterprise Storage Forum on Twitter.

Kevin Komiega
Kevin Komiega
Kevin Komiega is an Enterprise Storage Forum contributor.
Get the Free Newsletter!
Subscribe to Cloud Insider for top news, trends & analysis
This email address is invalid.
Get the Free Newsletter!
Subscribe to Cloud Insider for top news, trends & analysis
This email address is invalid.

Latest Articles

Comparing SSD vs HDD Speed: Which Is Faster?

SSDs and HDDs both have their advantages and disadvantages when it comes to speed. Learn about the differences between the two.

What Is Hyperconverged Storage? Uses & Benefits

Hyperconverged Storage is an IT infrastructure model that uses a combination of server and storage virtualization. Learn more about its uses and benefits.

Best Enterprise Hard Drives for 2023

Discover the best enterprise hard drives for your business. Explore the top enterprise hard drives for performance, reliability, and scalability.