Dell close to $876m deal for Compellent

The deal would extend a recent string of deals in the data storage industry as tech firms position themselves to help big companies and government agencies deal with ever-increasing amounts of digital information.

Dell fell short in its effort to expand in the storage business earlier this year when it lost the bidding for 3Par Inc. to rival Hewlett-Packard Co., which ended up paying $2.35 billion.

Now, Round Rock, Texas-based Dell said it has a tentative agreement to buy 3Par competitor Compellent, which is based in Eden Prairie, Minn., for $27.50 per share. The company cautioned that a deal may still not happen.

But investors appear to have anticipated a takeover offer — and perhaps a fatter premium. Dell’s offer represents an 18.2 percent discount to Compellent’s closing price on Wednesday.