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Dell's billion dollar 3Par takeover

Following a bidding war for the company, computer super power Dell has announced they'll be taking over data storage firm 3Par.

3Par have been at the centre of a takeover bid between Dell and Hewlett Packard for some time, but Dell have emerged triumphant after their $24.30 a share offer was accepted by 3Par.

This agreement means 3Par is now currently valued at $1.6 billion, matching an earlier offer by HP.

However in a comment from the company Dell explained how they believe their investment will "dramatically accelerate 3 Par's revenue growth".

It's not all good news though as following the announcement, 3Par shares fell more than 1.6 per cent in New York.

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13/01/2010 11:40:28