HP Tops Dell Offer for Storage Innovator 3Par
By wchung | 03 Apr, 2025
Hewlett-Packard Co. is bidding $1.5 billion for data storage provider 3Par Inc., just a week after rival Dell Inc. agreed to acquire the company for $1.13 billion.
HP and Dell have been looking to expand beyond personal computers over the past few years in a search for bigger profits.
In 3Par they are bidding for a company that provides software for organizing data on corporate servers. The company, which is based in Fremont, Calif., offers its products on a subscription basis over the Web, an approach known as “cloud computing.”
HP, based in Palo Alto, Calif., says it will pay $24 per share for the company, a 33 percent premium over Dell’s bid of of $18 per share.
Shares of 3Par rose $6.66, or 37 percent, to $24.70 in premarket trading.
PALO ALTO, Calif. (AP)
Hewlett-Packard is making a bid for data storage provider 3Par Monday, Aug. 23, 2010, just a week after rival Dell agreed to acquire the company.(AP Photo/Paul Sakuma, file)
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