Earlier today, Dell confirmed that they will purchase 3Par, a company whose principal focus is in data storage and management. According to the terms of the deal, Dell will spend $1.15 billion dollars on this acquisition which works out to about $18 in cash per share or about 87% more then 3Par’s $9.65 closing price on Friday. For Dell, 3Par provides a larger footprint into the realm of data storage, a market that is currently managed by the industry heavyweights of HP and IBM.

It’s believed that the 3Par acqusition will help Dell customers save money by dropping their data storage costs by nearly one half as 3Par’s products and services have been designed to allow clients to select the optimal amount of storage required for their needs and at the same time, reduce energy consumption and electrical costs.

With the purchase completed, Dell has indicated that there are no immediate plans to move 3Par’s operations from Fremont, California where it currently resides now. However, they will be folded into Dell’s current storage solutions which includes the EqualLogic and PowerVault servers.

Via: VB