A bidding war between Dell and Hewlett Packard (HP) has erupted over the acquisition of a virtualised data storage systems vendor, with potential implications for the financing arms of the two companies.
HP overshadowed Dell’s initial bid of $1.15bn (€906m) with an offer of $1.6bn on 23 August for California-headquartered 3PAR and the tussle was ongoing at time of writing.
The two companies have said they are looking to expand their data storage presence and their financial services arms have said this is to include developing their own offerings (Leasing Life, July issue). Acquiring a company like 3PAR could therefore provide a boost to the financing activities of both HP and Dell.
A source at HP Financial Services said: “I expect the 3PAR negotiations speak for themselves.
“The net is that as HP’s capabilities and business grow, so do our leasing/financing opportunities.”
A spokeswoman for Dell Financial Services said the company would not be commenting on its merger and acquisition activities.