As Dell Watches, HP Bumps Up its Own 3Par Bid

September 2, 2010 – Hewlett-Packard upped its bid for storage company 3Par in an attempt to pile pressure on rival Dell to back away from the two-week-long bidding battle.

HP’s latest offer is for $33 a share, or about $2.1 billion, an increase of $3 per share from its most recent bid for 3Par, according to today's news release from HP. 3Par, a Silicone Valley-based firm, specializes in highly virtualized, dynamically tiered, multi-tenant storage arrays built for public and private cloud computing.

Dell has three days to match or top any offer, or else lose the chance to purchase the company and $72 million from a break-up fee.

Dell initiated the bidding duel Aug. 16 with an offer of $18 a share, or about $1.2 billion.

Justin Kern is associate editor at Information Management and can be reached at justin.kern@sourcemedia.com. Follow him on Twitter at @IMJustinKern.

Filed under:

Data Governance