Posted By Rich Miller On July 9, 2007 @ 10:28 am In Virtualization | Comments Disabled
Virtualization software specialist VMware, Inc. expects to raise about $741 million in its upcoming IPO, with Intel (INTC) investing $218 million  and receiving a seat on the company’s board of directors, the company said this morning. With virtualization  growing in importance as a data center management and cost-cutting tool, VMware’s pending IPO is being closely watched in the data center industry.
VMware , which is owned by storage software giant EMC Corp. (EMC), said in a regulatory filing that it expects to sell up to 37.95 million shares to the public for an estimated price of between $23 and $25 per share. VMware said its Class A common stock has been approved for listing on New York Stock Exchange under the symbol VMW.
Intel Capital will pay $23 a share for 9.5 million Class A common shares in VMware, giving it 2.5 percent of all outstanding common stock. Intel said the investment “is intended to foster strengthened inter-company collaboration towards accelerating VMware virtualization product adoption on Intel architecture.”
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URL to article: http://www.datacenterknowledge.com/archives/2007/07/09/vmware-ipo-to-raise-741m-intel-invests/
URLs in this post:
 investing $218 million: http://arstechnica.com/news.ars/post/20070709-intel-buys-into-vmware.html
 virtualization: http://www.datacenterknowledge.com/archives/virtualization-index.html
 VMware: http://www.vmware.com
 Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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