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Information Technology company Dell has agreed to takeover data storage firm 3PAR, winning the battle with rival Hewlett Packard.

Dell said its new offer of $24.30 a share has been accepted by 3PAR. The two companies had signed a takeover last week in a deal worth around $1.15bn. But that deal included Dell matching competing bids.

Dell plan to “dramatically accelerate” 3PAR’s revenue growth following the $1.6bn (£1bn) takeover.

3PAR says its storage systems can cut storage administration costs by up to 90%.