Dell is to acquire storage company Compellent.
On Monday Dell announced that it will acquire storage company Compellent, following the Thursday announcement by the two companies that they were in link-up talks.
The deal is subject to approval by Compellent's shareholders and is expected to close in early 2011.
Dell will pay $27.75 (£17.61) a share for Compellent, up 25 cents on the $27.50 that was mentioned on Thursday. In total, Dell will pay $960m for the company.
"Compellent's design focus on intelligently managing data to increase efficiency, agility and resiliency is consistent with Dell’s approach of building solutions that can quickly scale to meet the most demanding enterprise environment", Dell's enterprise product group's senior vice president Brad Anderson said in a statement.
Dell will invest money into Compellent's engineering, support, operations and sales divisions, a Dell spokesperson told ZDNet UK on 13 December.