Computer maker Dell Inc. is close to acquiring data storage provider Compellent Technologies for about $876 million, the company said Thursday.
The acquisition would extend a recent string of deals in the data storage industry as tech firms position themselves to help big companies and government agencies deal with ever increasing amounts of digital information.
Dell fell short in its effort to expand in the storage business earlier this year when it lost the bidding for 3Par Inc. to rival Hewlett Packard Co., which ended up paying $2.35 billion.
Now, Round Rock, Texas-based Dell said it has a tentative agreement to buy 3Par competitor Compellent Technologies Inc., which is based in Eden Prairie, Minnesota, for $27.50 per share. The company cautioned that a deal may still not happen.
But investors appear to have already anticipated a takeover offer — and perhaps a fatter premium for the shares.
Dell’s offer represents an 18.2 percent discount to Compellent’s closing share price Wednesday of $33.65. The stock tumbled $4.40, or 13.1 percent, to $29.27 in morning trading, but remained above the offer price.
Dell shares edged up a penny to $13.69.
The world’s biggest technology providers have been stepping up acquisitions to make sure they can offer a full package of hardware, software and services for the back-office operations of big customers.
Dell has fallen behind HP in broadening its offerings. More than half of its revenue still comes from selling personal computers, a niche where profit margins have shrunk because of low prices and the increasing cost of components.