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Dell working to capture Compellent

Two companies announced "advanced discussions" in regards to combining their businesses. Compellent is a key storage player, and Dell needs to bolster its storage business.

Dell, which lost a bid to acquire 3Par to Hewlett-Packard earlier this year, is in advanced talks to purchase Compellent Technologies, a key storage player.

The two companies said in a statement yesterday they are in "advanced discussions regarding a possible business combination involving the two companies."

Dell is talking about $27.50 in cash per share of Compellent but may feel compelled to boost that figure. Dell needs to bolster its storage business and is running out of acquisition targets. Dell is currently No. 5 in storage.

Read more of "Dell eyes Compellent merger, 'advanced discussions' underway" at ZDNet's Between the Lines.