Saturday, July 28, 2007

Cisco Systems to Invest $150 million in VMware

Dean Takahashi writes in The Mercury News:

Cisco Systems agreed to invest $150 million in VMware, a virtualization software company that is readying itself for an initial public offering.

San Jose-based Cisco will buy VMware Class A common shares currently held by VMware's owner, the enterprise storage giant EMC.

After the investment, Cisco will own approximately 1.6 percent of Palo Alto-based VMware's total outstanding common stock, giving VMware a valuation of $9.4 billion. The deal is subject to regulatory approval.

More here.

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