HP completes 3PAR acquisition

Acquisition complete

HP today confirmed the deal to acquire 3PAR has been finalised.

The company paid out a massive $2.35 billion (1.48 billion) for the virtualised storage business following a hotly fought contest with rival Dell throughout August.

Dell made the initial bid for 3PAR for $1.15 billion and got the nod from shareholders. However, HP trumped the offer a matter of days later, raising it to $1.6 billion.

The two companies went back and forth, pushing the price up unexpectedly high for a firm which had barely made a profit since it began in 1999, but Dell eventually walked away with a termination fee of $72 million and HP won the war.

A statement from HP released today said: "3PAR technologies expand HP's storage portfolio into enterprise-class public and private cloud computing environments, which are key growth markets for HP."

"With a worldwide sales and channel network, coupled with extensive service operations, HP is uniquely positioned to rapidly expand 3PAR's market opportunity."

No details of combined products were given at the time of publication.

Jennifer Scott

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.