Across the technology spectrum today, big-name companies sought to put their cash to use, announcing acquisitions in the fields of cloud computing, human resources management software, and wireless networking.
In the cloud computing realm, the seesaw bidding war for data storage specialist 3PAR came to life again, less than a week after a previous round of escalating offers between computer and services companies HP and Dell. Today HP offered $33 per share in cash for 3PAR, topping Dell’s most recent offer and nearly doubling the $18 bid that began this pitched acquisition saga. The latest offer values 3PAR at approximately $2.4 billion.
In response, Dell ended its pursuit of 3PAR, saying in a statement that it “will not increase its most recent proposal to acquire 3PAR, and … [has] ended its discussions regarding a potential acquisition.”
“We took a measured approach throughout the process and have decided to end these discussions,” stated Dave Johnson, Dell’s senior vice president of corporate strategy.