January 9, 2004 — (WEB HOST INDUSTRY REVIEW) — Data storage company EMC Corporation (emc.com) announced today that it has completed the acquisition of VMware (vmware.com), a developer of virtualization software, for $625 million in cash.
The company said the acquisition of VMware enhances its strategy of helping companies lower costs through the deployment of virtualization technologies. EMC said it expects the two companies will combine to form a strong foundation for next-generation information lifecycle management solutions.
EMC says it will operate VMware as a separate software subsidiary of the company. The subsidiary will be based in Palo Alto, California and headed by Diane Greene, VMware’s former president and CEO.
According to EMC, the VMware name, brand and products will all be retained.
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