HP Closes Acquisition of 3Par for $2.35B

(Ping! Zine) – Hewlett Packard announced on Monday that it has completed its acquisition of 3Par for $2.35 billion.

HP had recently been involved in a bidding war with Dell over the data-storage maker. HP hopes that 3Par will help the company build its data storage capabilities and cloud computing business.

HP finalized the deal on Friday and acquired 55.9 million shares, which gave HP close to 88 percent stake in the company.