Technology company Hewlett-Packard (HPQ) will purchase utility storage company 3Par Inc (PAR) for $2.35 billion or $33 a share.
The agreement between the two companies ends 3Par%u2019s merger agreement with chip-maker Dell Inc. (DELL), with 3Par agreeing to pay Dell $72 million as a termination fee.
Some $30 billion in technology projects for the government are running over budget, failing to deliver as promised or both. The White House is considering overhauling them. Scrapping them is not on the cards.
Tech stocks are on sale these days, giving buyers a chance to pick up shares at impressive discounts. The sale isn't due entirely to market jitters. A good sex scandal helped to create opportunity as did less than rosy earnings forecasts.
After PC buying stalled during the recession, it's time again to replace those old machines. Such buying kicked in during the second quarter, and it's buoying expectations that Dell's sales and earnings growth will regain badly needed vigor.