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HP trumps Dell with 3Par bid

first_img Show Comments ▼ Tags: NULL KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestylethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsappcenter_img HP trumps Dell with 3Par bid HEWLETT-PACKARD launched a $1.6bn (£1.03bn) bid for data storage company 3PAR yesterday, topping an offer by technology rival Dell.HP bid $24 a share for 3Par, about 33 per cent more than Dell planned to pay in a deal announced a week ago. At the time, Dell’s bid for 3Par, which makes storage products that use virtualisation technology that allows companies to boost their operational efficiency, marked an 87 per cent premium to its share price.HP, faced with turmoil in its top ranks after the resignation of chief executive Mark Hurd, said its board had approved the bid.Shares of 3Par, which was founded in 1999 and posted sales of $194m in its last fiscal year, jumped 37 per cent in premarket trading after the HP announcement. Shares of HP slipped one per cent.The competing bids for 3Par come as technology heavyweights like IBM and Oracle have been boosting investment in cloud computing and virtualisation technology, hoping to take advantage of corporate demand for services that manage the flow of data and information.Cloud computing is technology that allows users to access data and software over the internet and corporate networks, instead of their desktop computer’s hard disk. Because Dell offered such a steep premium for 3Par, industry analysts had doubted a competing offer would emerge. The boards of Dell and 3Par had approved terms of the deal.HP said 3Par would be an “ideal fit” and offered terms that it said would be similar to those proposed by Dell but would not include a termination fee. HP said its proposed deal would close by the end of the year. Share whatsapp Monday 23 August 2010 7:51 pmlast_img

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