Dell acquires Compellent Technologies
Dell (NASDAQ: Dell) and Compellent Technologies, Inc. (NYSE: CML) have entered into a definitive agreement for Dell to acquire Compellent, a provider of highly-virtualized storage solutions with automated data management features, including tiering and thin provisioning, for enterprise and cloud-computing environments. The acquisition is the latest strategic investment by Dell as it expands its portfolio of enterprise-class storage solutions.
Under terms of the agreement, Dell will pay $27.75 per share in cash for each share of Compellent for a total equity value of approximately $960 million, and aggregate purchase price of approximately $820 million net of Compellent’s cash. The transaction, which is subject to approval by Compellent’s shareholders and customary closing conditions, is expected to close in early 2011.
“The Compellent storage platform will enable Dell to provide customers additional mid- and high-end network storage solutions that simplify and reduce the cost of data management,” said Brad Anderson, senior vice president, Enterprise Product Group, Dell.
Upon closing the transaction, Dell said it will make Compellent a part of its storage portfolio which already includes PowerVault, EqualLogic and Dell/EMC. Dell also plans to keep Compellent’s existing operations in Eden Prairie, Minnesota, and will invest in engineering, support, operations and sales capability to grow this business.
Compellent sells its solutions through an extensive network of channel partners. Dell said it would keep the channel program that Compellent has developed, while making additions to it. Dell also signed a reseller agreement with Compellent that extends the storage portfolio it can offer its worldwide customer base, effective immediately.
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