Dell Completes Acquisition of Compellent Technologies, Inc.

Dell (NASDAQ: Dell) today completed its acquisition of Compellent Technologies, Inc. (NYSE: CML), a rapidly-growing provider of highly-virtualized storage solutions with automated data management features, including tiering and thin provisioning, for enterprise and cloud-computing environments.

Compellent shareholders approved the acquisition at a special shareholder meeting today.

The Compellent acquisition is Dell’s latest strategic investment to expand its award-winning, enterprise storage portfolio which includes EqualLogic and PowerVault. The combination of Compellent technology with current Dell storage solutions significantly advances the Dell strategy to help customers better manage data growth, reduce storage costs and dramatically simplify the management of IT infrastructure.

Compellent Fluid Data technology combines a powerful data movement engine, intelligent software and modular hardware that can help cut costs up to 80 percent. The Fluid Data architecture provides block-level intelligence to automatically place data on the right storage tier to optimize performance and maximize cost savings. Compellent’s open, future-ready design integrates seamlessly with applications and infrastructure, enabling customers to scale on a single platform and add capabilities without forklift upgrades. In addition, the Compellent SAN is backed by Copilot Support, which goes beyond traditional support offerings by identifying and resolving problems, often before they happen.

Dell plans to leverage Compellent’s channel offerings to create the leading storage program in the industry, through its partners and new initiatives. Dell will combine the best of both companies’ channel deal registration programs, extend this new deal registration program to all partners, and introduce a program in which partners can grow and nurture a customer relationship once they have sold a Dell storage solution.

Dell also announced a dramatically expanded Dell Storage Forum 2011, which will now include Compellent solutions and channel partners. Previously known as the EqualLogic User Conference and Compellent C-Drive, the combined conference will offer keynotes and training on the Dell storage portfolio and will include a channel partner-specific track to provide partners information and resources needed to quickly add new Dell storage solutions to their portfolio.

Under terms of the agreement, Dell paid $27.75 per share in cash for each share of Compellent for a total equity value of approximately $940 million, and aggregate purchase price of approximately $800 million, net of Compellent’s cash. The amounts include the value of Compellent shares currently held by Dell at closing.

Quotes:

Brad Anderson, senior vice president, Dell Enterprise Product Group

“Compellent complements our storage portfolio by providing next-generation storage solutions and proactive support that help enterprise customers optimize and automate the management and protection of their data. Dell continues to invest in areas that help customer’s efficiently manage their massive data growth and provide the leading enterprise solutions for the virtual era.”

Phil Soran, president, Dell Compellent

“Compellent and Dell share the vision of helping enterprise and cloud customers optimize their storage investments. Compellent’s Fluid Data architecture helps deliver the vision by allowing customers to keep the right data on the right storage at the right costs. Our team is committed to helping Dell transform the data center with open, capable, and affordable solutions that allow customers to do more with their IT dollars.”

Jim DiMarzio, CIO, Mazda North American Operations

“As an enterprise dedicated to making products that zoom-zoom, Mazda requires its computing infrastructure to be just as responsive. Building a virtual environment using Dell and Compellent solutions has increased our operational efficiency as well as providing cost-effective performance. The ability to automate more of the infrastructure including the data management has freed our IT team to focus on other innovative ideas to react quickly to the needs of our business and customers.”

Patrick Mulvee, vice president of sales at Sidepath, a leading systems integrator

“Customers such as Mazda have chosen innovative technology from both Compellent and Dell, enabling them to increase efficiency, agility and resiliency in their enterprise and cloud environments. Sidepath has created a customer solution center based on Dell server and Compellent storage infrastructure that allows our engineers to demonstrate the business value of these technologies for data management, disaster recovery and virtualized data centers. We’re thrilled at what the future holds for this new Dell enterprise powerhouse—and for our partnership as a reseller.”

Additional Information:

• Supporting commentary customers and channel partners
• Executive and technical analysis on Direct2Dell and TechCenter Blogs
• Customer and reseller blogs on Compellent Around the Block Blog
• Dell Storage Forum 2011
• Product information on Dell storage and Compellent
• Reseller information on Dell PartnerDirect

About Dell

Dell Inc. (NASDAQ: DELL) listens to customers and delivers worldwide innovative technology, business solutions and services they trust and value. For more information, visit www.dell.com.

Dell is a trademark of Dell Inc. Dell disclaims any proprietary interest in the marks and names of others.

Important Additional Information

Statements in this press release that relate to future results and events are forward-looking statements made within the meaning of Section 21E of the Securities Exchange Act of 1934 based on Dell’s current expectations regarding the completed acquisition. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. Risks, uncertainties and assumptions include the possibility that expected benefits of the completed acquisition may not materialize as expected; that the parties are unable to successfully implement integration strategies; and other risks that are described in Dell’s Annual Report on Form 10-K for the fiscal year ended Jan. 29, 2010 and in its subsequently filed SEC reports. Dell does not undertake any obligation to update these forward-looking statements except to the extent otherwise required by law.