News Update: Dell Announced It Will Pay About $1.15 Billion For 3PAR

Dell Inc. (NASDAQ:DELL) said that it would pay about $1.15 billion in cash to buy 3Par Inc. (NYSE:PAR) after terms of acquisition were approved by the board of directors of each company. Dell will commence a tender offer to acquire all of the outstanding common stock of 3PAR for $18 per share in cash. The transaction is subject to customary closing conditions and is expected to close before the end of the year. The company plans to make 3PAR an integral part of its storage portfolio, including PowerVault, EqualLogic and Dell/EMC. Brad Anderson, Dell senior vice president, Enterprise Product Group commented, "We have aligned our storage offerings over the last several years to provide our customers choice and value, 3PAR brings the same values of performance, agility and ease-of-use to higher end, virtualized storage deployments as EqualLogic does for the entry-level and mid-range, rounding out our industry-leading solutions portfolio." SmarTrend currently has Dell in a Downtrend. Since 2008, SmarTrend subscribers trading Dell using our alerts outperformed the stock by 114%. We are monitoring these developments and will alert subscribers to any change in trend.

Channel: YouTube Video Length: 1m 34s Date Found: Mon, Aug 16 2010 4:09 PM Category: News Date Produced: Mon, Aug 16 2010 9:43 AM View Count: 0