A report on the technology blog Barron's has pointed out that some of the big players in the data storage domain could be looking forward to acquire data storage firm 3PAR Inc., primarily owing to the company’s focus on high-end storage segment.
Shares of 3PAR Inc. skyrocketed by 15 percent on Monday after Barron’s reported that the company is prepping itself as an attractive target for some data storage giants, including IBM, HP, or NetApp.
The company has already garnered a significant reputation in the data storage sphere, with its cutting-edge technologies in thin provisioning, as well as designing top-notch clustered storage architecture.
Dubbed as “Utility Storage”, the handy architecture, according to the company, could help users to bring down their storage expenditure to half of the costs they had to bear initially.
The report further cited 3PAR as one of the beneficiaries of the expected surge in IT spending next year, and quoted that with as much as $100 million in cash, along with small debt, the company has done exceptionally well to wither away the aftermaths of economic recession.
Analysts are forecasting its revenue to grow by a considerable 22 percent to reach $236 million for the financial year ending in March next year, Thomson Reuters reported.
For cash rich companies, getting 3PAR could well prove to be a judicious investment for the future, when the global economy eventually becomes better. One name that hasn't yet been mentioned is Cisco; one however can expect the networking giant to be interested in venturing in high end storage to expand its portfolio.