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Dell Inc said on Monday it plans to buy data storage company 3PAR Inc for USD 18 per share in cash, or USD 1.15 billion, extending its storage product offering for cloud computing.The deal marks an 87 percent premium over 3PAR's Friday closing price.

It is expected to close by the end of the year, the companies said.With the deal, Dell is attempting to bolster its services business, as have other technology heavyweights like International Business Machines Corp..

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