Dell buys 3PAR for $1.15 b

The deal marks an 87 per cent premium over 3PAR’s Friday closing price. It is expected to close by the end of the year, the companies said.

With the deal, Dell is attempting to bolster its services business, as have other technology heavyweights like International Business Machines Corp. Services tend to offer higher profit margins than selling PCs.

Previously, Dell, known for its personal computers, bought another storage company, Equallogic, for $1.4 billion. Dell said the current deal would likely add to its earnings in fiscal 2012. 3PAR was founded in 1999.