Dell has acquired 3PAR, a global provider of highly-virtualised storage solutions with advanced data management features, including dynamic tiering and thin provisioning, for multi-tenant cloud-computing environments.

The acquisition will allow Dell to lead an open and integrated approach to data management delivers increased efficiency with a goal of radically reducing data management costs and significantly streamlining operations.

These savings enable Dell customers to make room in their budgets for other strategic investments. 3PAR’s product portfolio complements Dell’s goal to make IT simpler and more affordable.

Dell plans to make 3PAR an integral part of storage portfolio, including PowerVault, EqualLogic and Dell/EMC. With 3PAR, Dell will offer systems and customer choice at every storage tier, from direct-attach to highly-virtualised, clustered SANS.

The transaction is valued at approximately $1.15 billion, net of 3PAR’s cash. Terms of the acquisition were approved by the board of directors of each company.

After closing, Dell plans to maintain and invest in additional engineering and sales capability. There are no plans to move the current operations.

3PAR was founded in 1999 and is headquartered in Fremont.