Dell has acquired 3PAR, a data storage company for $1.15 billion in cash. This is an 86.5% premium of 3PAR’s closing share price on Friday. Dell has been pushing for their cloud capability product line in order to stay competitive with IBM and HP.
The 3PAR Utility Storage platform helps customers cut their power and space costs for server storage. 3PAR Utility Storage is used by seven of the top 10 grossing server management providers.
This is Dell’s fourth major acquisition of 2010. The first three being KACE Networks, Exanet, and Ocarina Networks.