EMC, VMware to Create Web-Based Software Business
EMC Corp. and VMware Inc. executives said they plan to give a new class of stock to several in-house software-development units that focus on Web-based computing, part of a plan in which that entity eventually could go public.
The Pivotal group — which includes VMware’s Cloud Foundry application platform service, EMC’s Greenplum data analytics software and other products — will create its own equity aimed at “potentially” attracting strategic acquirers, EMC Chairman and Chief Executive Joseph Tucci said, though he cautioned such goals are far away and could change.
