VMware CEO Aims for Cloud Partnerships and M&A

Share post:

Raghu Raghuram, CEO of independent cloud computing company VMware Inc, said the company was seeking more deals with cloud computing providers and was looking at “large scale” acquisitions that could accelerate the company’s growth.

Last Monday, VMware completed its spinout from Dell Technologies Inc, which owned 81% of the California technology company, into a fully independent publicly traded company valued at $64 billion.

Founded in 1998, VMware has spearheaded a fundamental shift in the way large companies use data centers with technology that enables data center owners to turn physical computers into “virtual” machines that can be reduced or downsized according to the task at hand.

Many large companies today prefer a combination of their own data centers and one or more cloud providers, which has led many cloud providers to work with VMware to gain better access to their customer base.

In addition, VMware is also pushing to use its shares as a currency to acquire other companies and expand its services with additional technologies.

As a result of the spinout, Dell and other shareholders will receive a special dividend of about $27.40 per share, worth $11.5 billion, which Dell says it will use to repay debt.

For more information, view the original story on Reuters.

Featured Tech Jobs


Related articles

FTC says Microsoft’s layoffs at Activision Blizzard may threaten merger approval

The FTC has expressed dissatisfaction with Microsoft's layoffs at Activision Blizzard, challenging the integrity of the Microsoft-Activision deal....

Delaware court voids Musks $56 billion dollar compensation

Tesla's stock experienced a notable downturn following a Delaware court's decision to void CEO Elon Musk's massive $56...

IT World Canada strikes partnership with Canadian Cybersecurity Network

Goal is to make it easier for infosec pros to access each organization

Microsoft overtakes Apple as world’s most valuable company

In a notable shift in the tech industry, Microsoft has recently overtaken Apple to become the world's most...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways