News in Short: Dell acquires data storage company for $1.1 billion, ancient Lycos is alive but battered
Dell acquires data storage company for $1.1 billion
Computer maker Dell said today that will be acquiring data storage company 3Par for roughly $1.13 billion. The deal is all-cash.
3Par makes products designed to minimize capacity and energy costs. Dell is offering $18 a share, an 87 percent premium over the most recent closing price for the Cali-based company. Texas-based Dell said it plans to invest in added engineering and sales resources in 3Par.
The deal is already approved by both company’s boards and will close by the end of the year.
Ancient Lycos remains alive
Lycos has been around since ’94, and it’s still kickin’.
Daum Communications is the Korean-based search company that just sold Lycos for $36 million to Ybrant Digital, an India-based digital marketing company.
Ybrant Digital’s acquisition of Lycos included all of the company’s services, including Tripod, Angelfire, and WhoWhere.
Lycos became one of the biggest names in the dot-com boom era of the late 1990s. But over time, its popularity declined. One decade ago, Lycos was acquired by Terra Networks for a staggering $12.5 billion. It was then sold to Daum four years later for less than $100 million. The $36 million deal potrays how far Lycos has fallen since its inception.
