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Tech

3PAR (PAR) : Dell to acquire 3PAR

The headline says it all.

Dell Inc. said Monday it plans to purchase data-storage company 3PAR Inc. for about $1.15 billion in cash, as the personal-computer maker seeks to boost its offerings for corporate technology departments.

Dell will pay $18 a share for 3PAR, an 86.5% premium to the Fremont, Calif.-based company’s Friday closing price of $9.65.

Read more: http://online.wsj.com/article/SB10001424052748703382304575432411652741480.html?mod=googlenews_wsj#ixzz0wm6THxl6

Firstly, congrats to 3PAR. Storage is a tough market. Hopefully, with DELL as its backing, it can go further and go up against the likes of EMC.

The storage industry has continue to consolidate including the recent Oracle acquisition of SUN.

Without strong backing, it will take  a long time for 3PAR to build up the channels and replace the incumbent.

On the trading front, it has been a miss for me. I have wanted to buy some shares of 3PAR with this market correction.

Guess, DELL knows that this is a good time to buy (seeing that 3PAR’s shares is not going to move ahead much).

I think this is a good move on DELL’s part. Hopefully, the management can work together and provide alternatives to the industry.

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Tech

PALM : Jon Rubinstein Appointed CEO of PALM

SUNNYVALE, Calif., Jun 10, 2009 (BUSINESS WIRE) — Palm, Inc. (Nasdaq: PALM) today announced that its board of directors has appointed Jon Rubinstein to lead the company as Chairman and CEO upon the departure of Ed Colligan, who is stepping down after sixteen years of leadership at the company. Rubinstein, who joined Palm as Executive Chairman in October 2007 to help bring innovation back to the company, assumes his role as CEO on June 12. Colligan plans to take some time off, then join Elevation Partners.

With Jon Rubinstein appointed as CEO of PALM, I expect that there will be more ‘innovations’ coming out of Palm’s product line.

This is probably a very good setup for more product lines based on WebOS. Financially it will be challenging because of the downturn. At the same time, it is also the best time to take market share from other competitors who may reduce spending on R&D.

It feels like the time when Steve Jobs was heading Apple again. A perfect setup for multi-years growth, perhaps?

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Tech

3PAR : Seventh Fastest Growing Public Company in Silicon Valley

Good news for 3PAR

Source : http://finance.yahoo.com/news/San-Jose-Mercury-News-Cites-iw-14930015.html

FREMONT, CA–(MARKET WIRE)–Apr 15, 2009 — 3PAR® (NYSE:PAR – News), the leading global provider of utility storage, was cited as the seventh fastest growing public company in Silicon Valley in 2008, according to the Silicon Valley 150 list compiled annually by the San Jose Mercury News. 3PAR debuts on the Silicon Valley 150 with a ranking of 122 and 83% growth in 2008 — a year during which one-third of the companies on the list actually saw sales fall.

“Even in a challenging IT climate in which the Silicon Valley 150 companies grew collectively at a mere 5.2 percent, 3PAR continued to win over brand-name customers with our innovative, cost-saving, and energy-saving utility storage technology,” said David Scott, CEO of 3PAR.

The Silicon Valley 150 ranks public companies headquartered in Santa Clara, Santa Cruz, southern San Mateo, and southern Alameda counties on the basis of worldwide revenues (“Sales”) for the most recent available four quarters as of March 31. Most results are for the four quarters ended on or near Dec. 31, 2008.

To view the full article: http://www.mercurynews.com/sv150/

Interesting enough. In the same report, PALM was listed among the TOP 10 for Biggest Percentage Drop and SUN Microsystems (JAVA) is among the TOP 10 for Biggest Dollar Drop.