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3PAR Accepts Dell's Increased Price Of $24.30 Per Share, With Total Enterprise Value Of $1.6 Billion

ROUND ROCK, Texas--(BUSINESS WIRE)--Dell announced today that 3PAR has accepted its increased offer to acquire the storage leader for $24.30 per share in cash, or approximately $1.6 billion, net of 3PAR's cash. 3PAR is a leading global provider of storage solutions with advanced data management features for multi-tenant cloud-computing environments.

Dell had previously signed an agreement to acquire 3PAR for $18 per share, with a provision for matching competing bids. Dell and 3PAR have signed an amendment to the agreement reflecting the new offer price.

Over the past several years, Dell has invested heavily in the IP and infrastructure necessary to provide customers with a comprehensive and differentiated set of storage solutions. The 3PAR acquisition complements and extends the breath of Dell's storage portfolio. Dell's capabilities offer customers a unified enterprise environment that includes all storage categories from direct attached storage (DAS) to fibre channel.

Dell believes that its global brand and broad global customer reach will dramatically accelerate 3PAR's revenue growth. Dell has a demonstrated commitment and track record in integrating and growing acquired companies and nurturing their entrepreneurial and innovative cultures, as illustrated by the dramatic growth of the EqualLogic iSCSI storage business over the last three years.

Dell is committed to providing its data center customers with open, capable and affordable solutions. "Storage is at the forefront of this strategy," said Dave Johnson, senior vice president, Dell corporate strategy. "With the 3PAR acquisition, Dell with have the broadest set of differentiated storage solutions in the market today."