ROUND ROCK, Texas (AP) -- Dell says it is near a deal to buy data storage provider Compellent Technologies for about $876 million.
The acquisition would extend a recent string of deals in the data storage industry. Tech firms are positioning themselves to help big companies and government agencies deal with ever increasing amounts of digital information.
Dell Inc., based in Round Rock, Texas, said Thursday it has a tentative agreement to buy Compellent Technologies Inc. for $27.50 per share.
That's an 18.2 percent discount to Compellent's closing share price Wednesday of $33.65, suggesting investors had been anticipating a takeover offer at a much higher price. Compellent is based in Eden Prairie, Minn.
Compellent shares were trading at $28.75 in pre-market trading, down 14.6 percent from Wednesday's close.
The acquisition would extend a recent string of deals in the data storage industry. Tech firms are positioning themselves to help big companies and government agencies deal with ever increasing amounts of digital information.
Dell Inc., based in Round Rock, Texas, said Thursday it has a tentative agreement to buy Compellent Technologies Inc. for $27.50 per share.
That's an 18.2 percent discount to Compellent's closing share price Wednesday of $33.65, suggesting investors had been anticipating a takeover offer at a much higher price. Compellent is based in Eden Prairie, Minn.
Compellent shares were trading at $28.75 in pre-market trading, down 14.6 percent from Wednesday's close.
