Networking giants pumps $150m into virtualization firm
Shaun Nichols in California, vnunet.com27 Jul 2007
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Virtualization software vendor VMware
has landed a $150m investment from networking hardware firm
Cisco Systems.
VMware is considered to be among the leading developers of virtualization
software, which lets individual servers and desktops divide resources and run as
multiple 'virtual' machines.
Under the deal, Cisco will pay the money to VMware's parent company,
EMC Corporation, in exchange for shares in
VMware. The total value of the shares will give Cisco a 1.6 per cent stake in
the company.
EMC is planning to offer 10 per cent of VMware's shares in
an
IPO later this year.
In exchange, VMware said that it will consider appointing a Cisco executive
to its board at a later date.
The companies plan to use the investment to begin collaboration projects that
include optimizing VMware's products for Cisco's hardware. The two companies
also said that they intend to embark on a joint marketing operation.
VMware made a
similar
deal with Intel earlier this month when
it agreed to sell a 2.5 per cent stake to the chipmaker for $218m.
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