HP completes acquisition of 3PAR

Sep 27, 2010
US computer giant Hewlett-Packard said Monday it has completed its acquisition of data storage firm 3PAR for 2.35 billion dollars.

US computer giant Hewlett-Packard said Monday it has completed its acquisition of data storage firm 3PAR for 2.35 billion dollars.

HP paid 33 dollars per share for Fremont, California-based following a bidding war with another US computer titan, Dell.

The Palo Alto, California-based HP said that 3PAR became a wholly-owned subsidiary of HP after a tender offer for outstanding 3PAR shares expired at midnight on Friday.

The bidding war for 3PAR began on August 16 with an 18-dollar per share offer by Dell.

HP, the world's largest computer manufacturer, and Dell, the third-largest, are both seeking to expand their offerings to include services and storage.

With the rise of Internet-based "cloud computing," in which data is stored remotely, 3PAR was an attractive target and the bidding war for the company saw its stock triple in two weeks.

The acquisition of 3PAR gives HP an advantage in the market for advanced high-end data storage solutions, where 3PAR is the dominant player.

3PAR's technology enables large companies and government agencies to shift to "cloud" storage platforms, significantly cutting storage costs.

Explore further: Amazon launches 3D printing store

add to favorites email to friend print save as pdf

Related Stories

3Par calls HP $30 bid 'superior'; Dell mulls reply

Aug 28, 2010

(AP) -- Data storage company 3Par Inc. says its board has determined that Hewlett-Packard Co.'s $2 billion, $30-per-share takeover bid is superior to a rival offer from Dell Inc., but Dell said Saturday it was mulling over ...

HP boosts bid for 3Par to $1.88B, topping Dell

Aug 27, 2010

(AP) -- Hewlett-Packard Co. boosted its bid for 3Par Inc. to $1.88 billion Friday, topping Dell Inc.'s offer by 11 percent and again raising the stakes in the bidding contest for the data-storage company. ...

Recommended for you

Pfizer's 2Q profit sinks 79 pct but tops forecasts

3 hours ago

(AP)—Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a business spinoff gain of more than $10 billion. The latest results still edged ...

Aetna 2Q profit rises 2.4 percent

3 hours ago

Aetna's second-quarter profit climbed more than 2 percent, as gains from an acquisition helped the health insurer beat analyst expectations and raise its 2014 earnings forecast again.

Merck 2Q profit more than doubles

3 hours ago

A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double its second-quarter profit, raise the lower end of its profit forecast and easily top analysts' expectations.

Amazon launches 3D printing store

Jul 28, 2014

Amazon announced Monday the launch of an online store for 3D printed items to allow consumers to customize and personalize items like earrings, pendants, dolls and other objects.

User comments : 0