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HP completes 3PAR takeover
Stephen Withers
Tuesday, 28 September 2010 13:23
HP has completed its $US2.35 billion takeover of utility storage provider 3PAR.
At the time, HP expected the transaction to be completed by the end of the year, but it took less than a month.
Almost 88% of 3PAR's shares were tendered to HP, and the takeover was completed by exercising the 'top-up' provision in the agreement. 3PAR is now a wholly-owned subsidiary of HP.
The acquisition brings takes HP into enterprise-class public and private cloud storage markets, with capabilities including workload balancing and automatic tiering. Details of how 3PAR's products will be integrated with the HP range have yet to be revealed.
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