Dell Inc. plans to purchase data-storage company 3PAR Inc. for about $1.15 billion in cash, as the personal-computer maker, playing catch-up with bigger rivals, seeks to boost its offerings for corporate-technology departments.
Dell said Monday it will pay $18 a share for 3PAR, an 87% premium to 3PAR’s Friday closing price of $9.65. The boards of both companies have approved the 3PAR deal, which Dell said will add to a certain measure of its earnings in its 2012 fiscal year. 3PAR, which went public in 2007, has about 650 employees and earned $194 million in revenue for its 2010 fiscal year ended in March. The company, based in Fremont, Calif., had net losses for both its 2010 and 2009 fiscal years.
To read more, please follow this link.