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Submission + - EMC announces VMware IPO

VirtualizationDork writes: EMC announced that it plans to spin out approximately 10% of its share of VMware — one of virtualization's leading vendors — in an initial public offering (IPO) that should close this summer.

From the article:

"Speaking from VMware's headquarters in Palo Alto, Calif., Joe Tucci, EMC Chairman and CEO, said that "VMware's growth has been phenomenal," and that the IPO move was an attempt to "expose this value to EMC shareholders."

EMC purchased VMware in 2004 for $625 million. VMware reported revenues of $709 million in $2006, with Q4 revenue jumping 101% year-over-year. VMware is currently on a $900 million run rate."

Alex Barrett has the story at SearchServerVirtualization.com

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