Dell to buy 3Par for $1.13 billion
NEW YORK -- Dell says it's buying data storage company 3Par for about $1.13 billion cash.
The company makes products designed to minimize capacity and energy costs.
Dell Inc. is offering $18 per share for 3Par, an 87 percent premium over Friday's closing price for the company, based in Fremont, Calif.
Dell, based in Round Rock, Texas, said Monday it expects the deal to add to its adjusted profit in fiscal 2012. It says it also plans to invest in added engineering and sales resources in 3Par.
The deal has been approved by the boards of both companies and is expected to close this year.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.