The bidding war continues.
Dell announced today that 3PAR has accepted its increased offer to acquire the storage leader for $27 per share in cash, or approximately $1.8 billion.
Dell had previously signed an agreement to acquire 3PAR for $18 per share or $1.13 billion, with a provision for matching competing bids.
HP then effectively outbid the company and offered $1.6 billion, but Dell matched that offer yesterday, after which HP made a renewed bid for – you guessed it – $1.8 billion.
Dell now offers $1.8 billion for the data storage company as well, which means it’s ready to spend roughly $670 million more than it had initially offered.
Dell says it continues to believe that the acquisition of 3PAR is important to its customers and will enhance Dell’s position in utility-storage solutions. Consistent with its previous rationale for the acquisition, Dell also believes that its global brand and broad global reach will dramatically accelerate 3PAR’s revenue growth.
The billion dollar question: will HP make a renewed offer? I say we make it $2 billion.