Skip to main content



) --


(DELL) - Get Dell Technologies Inc. Class C Report

signed an agreement to buy


(PAR) - Get PAR Technology Corporation Report

Scroll to Continue

TheStreet Recommends

, a data-storage company, for $1.15 billion.

Dell will begin a tender offer to acquire all of the outstanding common stock of 3PAR for $18 a share in cash, an 86.5% premium to 3PAR's closing price Friday of $9.65.

The transaction is expected to close before the end of 2010.

Dell said the transaction, based on current estimates, is expected to be accretive to its non-GAAP earnings in fiscal 2012.

"We have aligned our storage offerings over the last several years to provide our customers choice and value," said Brad Anderson, Dell senior vice president, Enterprise Product Group, in a statement Monday. "3PAR brings the same values of performance, agility and ease-of-use to higher end, virtualized storage deployments as EqualLogic does for the entry-level and mid-range, rounding out our industry-leading solutions portfolio."

Dell bought EqualLogic in 2007.

-- Reported by Joseph Woelfel in New York.

Get more stock ideas and investing advice on our sister site,