3Par Accepts HP’s $2.4B Offer, Dell Walks Away With $73 Million

By SecurityWeek News on September 02, 2010

HP has won the heated bidding war for storage company 3Par, but Dell will take home $72 million from a break-up fee upon the termination of its merger agreement.

HP Acquires 3Par

Dell announced today that it will not increase its most recent proposal to acquire 3PAR, and that Dell has ended its discussions regarding a potential acquisition.

“We took a measured approach throughout the process and have decided to end these discussions,” said Dave Johnson, senior vice president, corporate strategy.”

3Par specializes in highly virtualized, multi-tenant, tiered storage solutions built for public and private cloud computing. The company generated revenues of $187.4 Million in 2009.