Hewlett-Packard (HP) has bid $24 per share, or $1.6 billion, for storage giant 3Par, topping rival Dell's bid by 33.3%.
HP says its proposal is not subject to any financing contingency and has been approved by the company's board of directors. Once approved by 3Par's board, HP expects the transaction to close by the end of the calendar year.
Donatelli says the addition of 3Par's next-generation storage architecture will accelerate HP's converged infrastructure strategy, unveiled earlier in the year, which provides customers with a portfolio of intellectual property across storage, server and networking solutions.
“3Par's highly-scalable storage systems will further strengthen HP's ability to deliver the highest levels of performance, efficiency and reliability to customers worldwide. The combination will bolster HP's storage offerings and diversify its portfolio across key growth markets,” he adds.
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