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Dell Technologies (DELL) will spin off its 80.6% stake in VMware (VMW), creating two publicly-traded companies and raising cash to pay down debt.
On April 15, 2021, it was reported that Dell would spin off its remaining stake in VMware to shareholders and that the two companies would continue to operate without major changes for at least five years. [42] The spinoff was completed on November 1, 2021. [43] On May 12, 2021, VMware announced that Raghu Raghuram would take over as CEO. [44]
Shares in Dell Technologies (DELL) spiked 14% in pre-market trading on a report that the PC maker is mulling a spinoff of its roughly $50 billion stake in cloud computing software maker VMware Inc ...
When VMware was acquired by Dell, a reverse merge was in place so the latter would be back to the stock market as a public company. [11] In July 2020, Fisker, Inc announced plans to go public via a merger with Spartan Acquisition Corp (SPAQ), a "blank-check" company backed by Apollo Global Management. [12]
Virtual Computing Environment Company (VCE) was a division of EMC Corporation that manufactured converged infrastructure appliances for enterprise environments. Founded in 2009 under the name Acadia, it was originally a joint venture between EMC and Cisco Systems, with additional investments by Intel and EMC subsidiary VMware.
May 8, 2006: Alienware: Computer desktops United States — [5] 5 November 14, 2006: ACS Information technology United Kingdom — [6] 6 July 18, 2007: SilverBack Technologies, Inc. [note 1] Network monitoring United States — [7] 7 November 12, 2007: ASAP Software Express [note 2] Information technology United States $ 340,000,000 [8] 8 ...
In 2018, Dell had a racing partnership with British racing team McLaren, providing processing power to support the large amounts of racing data generated by McLaren's Formula 1 program. [18] On April 15, 2021, it was reported that Dell Technologies would spin out the remainder of its VMware shares to shareholders.
Paul Maritz became Pivotal's chief executive immediately after the spin-out. [5] Maritz had joined EMC in February 2008 when Pi Corporation, a company he co-founded, was acquired and was previously the CEO of VMware. [6] [7] The Greenplum Database (acquired by EMC in 2010) formed the basis of a division selling software for the big data market. [8]