3PAR, the California based storage company was enjoying the bidding game between HP and Dell for quite sometime. The bidding stretched both the PC majors to their maximum extent, owing to the sharp decline in the PC sales business while sales in cloud-based systems market continue to prosper.
According to PC Magazine:
The final acquisition cost of $2 billion, confirmed by 3PAR late Friday, represents a price of $30 per share of 3PAR stock. That’s triple the closing price of the company’s stock before Dell’s initial offer was made public, and more than double after.
According to Bloomberg, HP’s valuation of 3PAR is the highest premium offered in such a bidding situation amongst more than 19 thousand different deals the company’s tracked since 2001.