The Israel-based start-up fell into liquidation in December and speculation has suggested for several weeks that Dell would look to swoop. Yesterday, Israeli news site Globes reported that a $12m deal had been agreed.
Dell has since confirmed that it has submitted a bid for Exanet's assets and intellectual property. But the PC vendor stressed that the deal is still subject to approval in Israel's courts.
The $12m price appears to represent a bargain for Dell. The venture capital-backed storage firm has received about $70m in funding in its 10-year history. Headquartered in Ra'anana in Israel's Central District, Exanet also has offices in the US, Japan, France, Germany and the UK.
Infrastructure provider says international sales now make up 51 per cent of its revenue
Suzanne Chappell of TMS plans sailing venture after selling Oxfordshire-based TMS to acquisitive Chess
Withdrawal of credit insurance by some providers a 'reflection' of current challenge facing IT sector, according to MD Steve Soper
SMART's UK managing director joins Lenovo to boost SMB business