3PAR bidding war heats up as HP outbids Dell once again
Just hours after Dell announced a revised bid for 3Par, HP announced that it has increased its proposal to acquire 3PAR to $27.00 per share in cash, or an enterprise value of $1.8 billion.
“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,” said Dave Donatelli, EVP and GM (enterprise servers, storage and networking) of HP. “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.”
The addition of 3PAR’s storage architecture will accelerate HP’s converged infrastructure strategy, providing customers with a portfolio of intellectual property across storage, server and networking solutions.
Once approved by 3PAR’s board, HP expects the transaction to close by the end of the calendar year.
Meanwhile, HP is not letting the current impasse over 3Par effect its acquisition spree. Yesterday, it announced the accquisition of Stratavia, a privately held database and application automation company based in Denver, yesterday. The company is yet to disclose the terms and conditions of the deal.
The company states that the acquisition of Stratavia will strengthen the HP software and solutions portfolio; adding deployment, configuration and management solutions for enterprise databases, middleware, and packaged applications.
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