Dell has agreed to buy virtualized storage vendor Compellent Technologies in an all-cash deal worth US$27.75 per share, a little more than the $27.50 per share price tag it was discussing with the company last week, but still lower than the stock's Monday-morning opening price of $28.30.
Compellent Technologies - News, Features, and Slideshows
After losing a drawn-out bidding war to Hewlett-Packard to acquire storage vendor 3Par earlier this year, Dell re-opened its coffers in a bid to acquire Compellent Technologies, hoping the company will be the answer to its midrange storage area network (SAN) needs.
Dell said Thursday it is in advanced talks with storage vendor Compellent Technologies regarding a merger that would call for Dell to pay US$27.50 per share, or roughly $876 million, for the company.
Compellent Technologies today announced the availability of the latest version of its storage area network (SAN) technology, Storage Center 5.4 SAN, which incorporates several hardware upgrades as well as adding storage virtualization.