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HP offers $1.6 billion for 3PAR, tops Dell's offer

By Peter Sayer
August 23, 2010 08:22 AM ET
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IDG News Service - Hewlett-Packard Co. has offered to buy 3PAR Inc., a vendor of virtualized storage systems, for $1.6 billion in cash, topping a bid of $1.15 billion that Dell Inc. made last Monday.

HP made its offer in a letter to 3PAR President and CEO David Scott on Monday morning.

The offer will force 3PAR's board to reconsider its merger agreement with Dell because the HP offer is a "superior proposal," HP Executive Vice President and Chief Strategy and Technology Officer Shane Robison wrote in the letter.

Robison said that HP would be a better fit for Fremont, Calif.-based 3PAR than Dell would, because both HP and 3PAR are Silicon Valley companies.

Peter Sayer covers open source software, European intellectual property legislation and general technology breaking news for the IDG News Service. Send comments and news tips to Peter at peter_sayer@idg.com.

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Reprinted with permission from IDG.net. Story copyright 2012 International Data Group. All rights reserved.
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