Dell buys cloud storage firm for $960m

Dylan Bushell-Embling
14 Dec 2010
Daily News

Dell is to buy cloud storage company Compellent Technologies for $960 million, in the latest of the ICT industry's recent wave of major storage deals.

Compellent provides virtual storage and data management solutions for enterprise and cloud computing environments.

Dell said the acquisition, which net of Compellent's cash is worth $820 million, should close in 2011.

It plans to integrate Compellent into its storage portfolio, and hold on to the company's existing operations in the US.

Dell lost out to HP in a bidding war for storage company 3Par earlier this year, with HP paying $2.35 billion.

IBM in September also acquired data management and analytics company Netezza for $1.7 billion, and EMC last month picked up networked storage firm Isilon Systems for $2.25 billion.

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