Mergers and Acquistions News
Categories: IT Services & Consulting
December 13th 2010, 17:04PM
Computer giant Dell has moved into the data storage sector with the acquisition of US-based Compellent Technologies for $960 million (£610 million).
Compellent provides storage solutions with data management features for the enterprise and cloud computing environments.
Under the terms of the agreement, Dell will pay $27.75 per share in cash; net of Compellent's cash, Dell will pay £820 million.
The acquisition is part of Dell's strategy of investment in broader projects in order to offer its customers better ways of managing data growth.
Dell will align Compellent with its other storage services, including Power Vault, EqualLogic and Dell/EMC, and will keep its operations in Minnesota.
"Compellent is a natural complement to Dell's expanding enterprise storage portfolio. The Compellent storage platform will enable Dell to provide customers additional mid- and high-end network storage solutions that simplify and reduce the cost of data management," said Brad Anderson, senior vice president of Dell's Enterprise Product Group.
The transaction is expected to close in early 2011.
Earlier this year, Dell was beaten by its close rival, Hewlett-Packard, in the chase for storage firm 3Par.
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