On Wall Street share prices of 3PAR rose to over $24 per share on news that Hewlett-Packard’s $1.6 billion offer to buy 3PAR was one third higher than a prior $1.1 billion bid by Dell Inc.   Today’s price levels are the highest seen on record since the company’s initial offering in 2007. 3PAR known for its storage products which are often used in data centers has become especially attractive as a target as the cloud computer business segment continues to expand.   The shares of other data storage companies have gone up recently based on the 3PAR acquisition news including Commvault Systems up 6.6%, Compellent Technologies, Inc. up 8.2% and Isilon Systems with a gain of 7.5%.

HP made the $1.6 billion dollar offer as Caterine Lesjak, the company’s chief financial officer serves as interim executive while the company looks for a replacement for Mark Hurd.   "HP's proposal offers superior value to 3PAR's shareholders. Our global reach, strong routes to market and commitment to innovation uniquely position HP as the ideal fit for 3PAR," stated Dave Donatelli, HP's executive vice president of Enterprise Servers, Storage and Networking. Even 3PAR is much smaller than its rivals EMC and Hitachi, it has been able to be competitively in the storage market.

Related Links:

http://online.wsj.com/article/SB10001424052748704340504575447352390053216.html

http://www.forbes.com/2010/08/23/3par-hewlett-packard-markets-equities-dell.html?boxes=techchanneltopstories