Information technology company Hewlett Packard (HP) has made a £1bn bid for data storage firm 3PAR, outbidding an offer made by rival Dell last week.

Founded in 1939, HP are looking into more profitable business areas outside of manufacturing computers.

The bid comes shortly after Intel's £5bn takeover bid for McAfee last week as acquisition activity raises in the technology sector.

HP said that if their offer was accepted, the deal should be completed by the end of 2010.