Dell says it is going to acquire data storage company Compellent Technologies for $884 million to expand beyond PCs and catch up with rivals Hewlett-Packard Co(HPQ.N) and IBM in technologies like cloud computing.
The offer price is slightly more than Dell Inc. said it would pay last week, before the companies had signed a formal agreement. Dell says it will pay $27.75 per share for Compellent Technologies Inc., up from $27.50.
But it is lower than Eden Prairie, Minnesota-based Compellent's closing price of $28.71 on Friday.
Dell, based in Round Rock, Texas, is trying to catch up with other tech firms that have branched into the business of storing and organizing data for companies and governments. Providing that sort of back-office technology is shaping up as a more profitable line of business than selling personal computers, which is how Dell still generates most of its revenue.
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