Aiming to strengthen offerings in the emerging cloud computing and virtualization space, two computer giants, HP and Dell, have submitted proposals to acquire leading global utility storage provider 3PAR, Inc.
Today, the world’s number one computer maker Hewlett-Packard made a $1.6 billion offer to acquire virtual data storage company 3PAR. HP’s bid is one-third higher than number two rival Dell Inc. Last week, Dell made an offer of $1.13 billion to 3PAR based on $18 per share.
HP’s proposal plans to acquire all of the outstanding shares of 3PAR for $24 a share in cash. According to HP, its proposal is not subject to any financing contingency and has been approved by the board of directors. Once approved by 3PAR’s board, HP expects the transaction to close by the end of the calendar year.
With the addition of 3PAR’s next-generation storage architecture, HP is hoping to offer a converged architecture that combines an unmatched portfolio of storage, server and networking products, HP officials said.
In an official statement, Dave Donatelli, HP’s executive vice president and general manager, Enterprise Servers, Storage and Networking said, “HP’s proposal offers superior value to 3PAR’s shareholders. Our global reach, strong routes to market and commitment to innovation uniquely position HP as the ideal fit for 3PAR.” He added, “We’ve seen great momentum with our Converged Infrastructure strategy, and 3PAR accelerates that strategy, particularly in cloud and scale-out markets.” 3PAR officials declined to comment on this deal.
In recalling the Mark Hurd resignation few weeks ago, a TechZone360 blog post by Rich Tehrani suggests that CEO Hurd was expendable and this deal is a proof. The blogger says its time to focus on HP as a growing technology player rather a company mired in frequent management challenges. Meanwhile, HP continues its search for a new CEO with the help of an agency, Spencer Stuart, Inc.
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