3PAR plumps for Dell rather than HP

Hardware giant Dell has triumphed over rival HP in their battle to buy storage company 3PAR.

Dell said in a prepared statement that 3PAR accepted its increased price - $24.30 a share - amounting to $1.6 billion.

Its previous offer for 3PAR was for $18 per share, but that included a provision for matching competing bids. Both companies have now signed on the dotted line to seal the acquisition.

HP had offered to buy 3PAR for $24 a share, so it seems that Dell didn't have to pay well over the odds to pip it to the post.