23 August, 2010

Hewlett-Packard Offers to Buy 3Par, Trumping Dell Bid

Hewlett-Packard Co., offered to buy 3Par Inc. for about $1.6 billion, topping Dell Inc.’s bid for the maker of equipment and software products for data centers. The bid of $24 a share in cash is 33 percent higher than Dell’s offer, HP said today in a statement. Dell offered $18 a share in cash, or about $1.15 billion, for 3Par on Aug. 16.

HP and Dell are competing for a smaller rival to challenge International Business Machines Corp. in the market for more complex computer systems and technology services that yield higher profits than desktop and laptop PCs. 3Par, based in Fremont, California, makes hardware and software for reducing information-storage requirements.