3PAR accepts raised Dell acquisition bid

3PAR accepts raised Dell acquisition bid
(Telecompaper) Cloud computing storage specialist 3PAR said it has accepted a matching offer by Dell at USD 27 per share, or a total of USD 1.8 billion, net of 3PAR’s cash. 3PAR and Dell have signed a second amendment to their previously announced merger agreement reflecting the new offer price, maintaining the termination fee unchanged at USD 72 million, payable in the event that 3PAR receives and accepts another unsolicited acquisition proposal that its board determines to be superior to Dell’s increased offer. Unless extended, the tender offer will expire at 20 September. Following completion of the deal, 3PAR will become a wholly-owned subsidiary of Dell. The board of directors of 3PAR continues to unanimously recommend that 3PAR stockholders accept Dell’s tender offer. Market watchers note that the fight for 3PAR illustrates how important it has become for tech companies to dominate the cloud computing market. Dell “plans to drag this out” for HP, the Wall Street Journal reported, citing a person familiar with the matter. Because of the matching rights, Dell is unlikely to raise its offer by a huge amount; rather, it would match or slightly top whatever HP offers, the person added.[Lees verder]

Orange buys 11 percent of Deezer in cashless transaction
(Telecompaper) Orange has bought 11 percent of French music streaming website Deezer in return for its Wormee music streaming assets and a commitment to market Deezer’s subscription service to its new customers, the two companies announced at a press conference. Deezer CEO Axel Dauchez told Reuters that the exclusive partnership should enable the company to attract several hundred thousand subscribers to its unlimited music premium service by the end of the year, up from 25,000 at present. The rapprochement will also help France’s music streaming market to expand more rapidly, he said, adding that it could be extended to other countries where Orange is present. Les Echos reports that Orange intends to switch off its Wormee service. Deezer has already informed its customers by e-mail of the partnership and what it could bring to them. Orange France has issued a press release stating that the unlimited music offer from Deezer would be introduced into Orange mobile and internet packages. The Deezer Premium Plus music service is included in the new internet, TV and phone packages for an extra EUR 5 per month. As a special this autumn, Orange is launching Surf Music, a limited series offer at EUR 29.90 a month, which includes internet access without a phone subscription, over 30 Orange TV channels, unlimited calls to landlines in metropolitan France and unlimited music. For mobile users, Origami Star packages (including Star Plus and Star for iPhone) and Origami Jet deliver access to unlimited Deezer Premium Plus at no additional cost if the customer chooses one of four premium music options.[Lees verder]

3PAR accepts raised Dell acquisition bid
(Telecompaper) Cloud computing storage specialist 3PAR said it has accepted a matching offer by Dell at USD 27 per share, or a total of USD 1.8 billion, net of 3PAR’s cash. 3PAR and Dell have signed a second amendment to their previously announced merger agreement reflecting the new offer price, maintaining the termination fee unchanged at USD 72 million, payable in the event that 3PAR receives and accepts another unsolicited acquisition proposal that its board determines to be superior to Dell’s increased offer. Unless extended, the tender offer will expire at 20 September. Following completion of the deal, 3PAR will become a wholly-owned subsidiary of Dell. The board of directors of 3PAR continues to unanimously recommend that 3PAR stockholders accept Dell’s tender offer. Market watchers note that the fight for 3PAR illustrates how important it has become for tech companies to dominate the cloud computing market. Dell “plans to drag this out” for HP, the Wall Street Journal reported, citing a person familiar with the matter. Because of the matching rights, Dell is unlikely to raise its offer by a huge amount; rather, it would match or slightly top whatever HP offers, the person added.[Lees verder]

Orange buys 11 percent of Deezer in cashless transaction
(Telecompaper) Orange has bought 11 percent of French music streaming website Deezer in return for its Wormee music streaming assets and a commitment to market Deezer’s subscription service to its new customers, the two companies announced at a press conference. Deezer CEO Axel Dauchez told Reuters that the exclusive partnership should enable the company to attract several hundred thousand subscribers to its unlimited music premium service by the end of the year, up from 25,000 at present. The rapprochement will also help France’s music streaming market to expand more rapidly, he said, adding that it could be extended to other countries where Orange is present. Les Echos reports that Orange intends to switch off its Wormee service. Deezer has already informed its customers by e-mail of the partnership and what it could bring to them. Orange France has issued a press release stating that the unlimited music offer from Deezer would be introduced into Orange mobile and internet packages. The Deezer Premium Plus music service is included in the new internet, TV and phone packages for an extra EUR 5 per month. As a special this autumn, Orange is launching Surf Music, a limited series offer at EUR 29.90 a month, which includes internet access without a phone subscription, over 30 Orange TV channels, unlimited calls to landlines in metropolitan France and unlimited music. For mobile users, Origami Star packages (including Star Plus and Star for iPhone) and Origami Jet deliver access to unlimited Deezer Premium Plus at no additional cost if the customer chooses one of four premium music options.[Lees verder]