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Dell Buys 3Par for $1.15 BillionPOSTED August 17, 2010 ROUND ROCK, TX -- Dell has signed an agreement to acquire 3PAR, a Fremont-based provider of highly-virtualized storage solutions with advanced data management features, including dynamic tiering and thin provisioning, for multi-tenant cloud-computing environments. Dell will pay $18 per share in cash and he transaction is valued at approximately $1.15 billion, net of 3PAR’s cash. Terms of the acquisition were approved by the board of directors of each company. In the ‘Virtual Era,’ Dell is driving an open and integrated approach to data management. Dell is delivering increased efficiency with a goal of radically reducing data management costs and significantly streamlining operations. These savings enable Dell customers to make room in their budgets for other strategic investments. 3PAR’s product portfolio complements Dell’s goal to make IT simpler and more affordable. As a pioneer of thin provisioning and other storage virtualization technologies, 3PAR has designed its products to minimize upfront and ongoing capacity purchases, and to reduce power consumption and energy costs. 3PAR’s multi-tenant, clustered storage architecture is the underlying technology platform for IT organizations to build agile and efficient virtualized IT infrastructures for flexible workload consolidation. 3PAR provides rapid provisioning and predictable performance for customers facing ever-increasing storage capacity requirements. “3PAR has consistently provided customers with the ability to do more with less,” said David Scott, President and CEO of 3PAR. “With Dell we combine a powerful, virtualized storage platform with an outstanding distribution network to deliver this value to an even broader set of customers.” 3PAR’s storage arrays are designed to overcome the limitations of traditional modular and monolithic arrays. 3PAR addresses the problem of costly, complex, and rigid IT environments and enables organizations to treat storage as a utility— allowing them to use and pay for only the capacity and performance they need, and only when they use it. Dell plans to make 3PAR an integral part of its industry-leading storage portfolio, including PowerVault, EqualLogic and Dell/EMC. With 3PAR, Dell will offer innovative systems and customer choice at every storage tier, from direct-attach to highly-virtualized, clustered SANS. 3PAR was founded in 1999 and is headquartered in Fremont. After closing, Dell plans to maintain and invest in additional engineering and sales capability. There are no plans to move the current operations. It's the second area company bought by Dell in the past month. In July, Dell agreed to buy Scalent of Palo Alto for an undisclosed amount. © Copyright SVDaily.com |
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