HP Acquires 3Par with $2.4 B Bid
Author: John Duckgeischel
on September 2, 2010 - 10:26 AM
In dramatic fashion, HP has
surpassed Dell’s last ditch effort, by securing 3Par Inc. with a $33 per share
bid. Today Dell has served notice that
it will submit no further bids, choosing instead to let HP go forward with its plans to
acquire the company for $2.4 billion.
The winning HP was more than double the price of Dell’s initial offer
and more than three times of the stock price within the last month. "We thought the price Dell originally
offered was already pretty rich," Shaw Wu, a veteran tech analyst with
Kaufman Brothers investment firm, said in an interview earlier this week. He
added that "it remains to be seen" whether the purchase of 3Par will
pay off.
|
3Par Bidding War Continues
Author: John Duckgeischel
on September 1, 2010 - 12:07 AM
It all
started with Dell’s initial $1.15 billion bid for 3Par Inc. a few weeks ago,
then HP countered with a higher bid that started the bidding war between both
companies. HP currently has the
highest bid with a $2 billion dollar
offer for 3Par, leaving Dell wondering about its next move in this strategic
chess match. “We're assessing what our
next step will be," Dell spokesman David Frink stated. As the cloud computing market heats up, both
Dell and HP see 3Par’s storage technology as a great compliment to their
respective product lines. The question
of how much HP or Dell is willing to pay for 3Par, Inc. may be answered in the
near future. "If HP is able to
rapidly ramp up 3Par's sales, it can certainly justify the price they're offering
to pay for it," says Stan Zaffos, research vice president at Gartner.
|