Dell has rebuffed HP's attempt to hijack its acquisition of 3Par, after the storage specialist accepted an increased...
bid of $24.30 per share in cash, valuing the firm at $1.6bn.
Dell initially announced the planned purchase earlier this month, claiming that buying the thin provisioning supplier would enable it to reduce customers' data management costs by 50%, lower storage administration costs by up to 90% and infrastructure costs by up to 75%.
Days later HP submitted a higher bid, but the original agreement between Dell and 3Par allowed for the acquirer to match any rival bids, which Dell has now done.
Dave Johnson, senior vice-president, Dell corporate strategy, said, "With the 3Par acquisition, Dell with have the broadest set of differentiated storage solutions in the market today."
3Par specialises in thin provisioning, which enables IT managers to allocate only the storage they use, rather than allocate storage that remains empty.
The acquisition is subject to regulatory approvals, but Dell expects the deal to close by the end of the year.