Dell Inc. has just agreed to acquire 3PAR Inc. in exchange for $1.15 billion in cash. This is great news for investors of 3PAR who will get $18.00 in cash for each share they own. The shares are only currently valued at $9.65 (as of market close on August 13th). This is an 87% increase in value for share holders.

3PAR Inc. is a data storage, and data management company, which competes with companies like IBM, HP, EMC, etc. We do not know what Dell plans on using the company for but don’t expect to see many changes with 3PAR management.

3PAR’s stock had dropped close to 20% this year, before being acquired by Dell today. The 52 week high was $13.67, and there are 62.58 million shares currently outstanding.