host posted on September 03, 2010 08:32
Data storage provider 3PAR was acquired by HP today at $33 per share, $3 over their previous offering. HP's previous $30 bid was not enough to discourage Dell from raining the bar to $32. When HP through in another buck, Dell threw in the towel. This purchase came at three times 3PAR's stock price at the beginning of this battle for the byte.
3PARS shares were down 3 cents at $32.85 after Thursday's $33.88 closing on NYSE.
3PAR is a direct competitor to the larger EMC Corp in the cloud computing space. On another note, EMc just sold its retrospect software to ROXIO.
Interesting maneuvering, this will be an interesting company to watch.
Chris Bangs
SMB Nation
http://www.3par.com
http://www.hp.com
http://www.dell.com
http://www.emc.com
http://roxio.com