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Dell agrees to buy ConvergeNet

Published on .

Round Rock, Texas--Dell Computer Corp. announced Thursday that it has reached a definitive agreement to acquire ConvergeNet Technologies, San Jose, Calif., in a stock deal valued at about $340 million. Privately held ConvergeNet is a storage networking company focused on data-storage technologies for storage area networks (SAN). The acquisition is intended to provide Dell opportunities in the open-systems storage market, which International Data Corp. estimates will total $38 billion by 2002.
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