Dell Inc. has entered a definitive agreement to acquire EqualLogic, a leading provider of high-performance iSCSI storage area network (SAN) solutions.

Our customers will be dealing with the largest in data we have seen in our history over the next few years, said Michael Dell, Chairman and CEO, Dell. Leading the iSCSI revolution will help Dell accelerate IT simplification and virtualization and will drive the Dell value proposition into more areas of the enterprise storage business, Mr. Dell said.

The acquisition of EqualLogic is expected to strengthen Dell's product and channel leadership in simplifying and virtualizing IT for customers globally.

Dell will close the deal at approximately $1.4 billion cash and it is expected to be closed late in the fourth quarter of Dell's fiscal year 2008.

After completing the acquisition, Dell plans to grow EqualLogic's successful channel-partner programs with current and future EqualLogic branded products, and also plans to incorporate EqualLogic technology into future generations of its Dell PowerVault storage line available through the channel and direct from Dell.

Michael Dell Dell