Tuesday, August 14, 2007

VMware Subsidiary IPO Raises $957 Million, Share Price Surges - Hopkinton, MA

VMware, a subsidiary of Hopkinton-based data storage company EMC, has priced its initial public offering of stock to raise about $957 million. The company priced 33 million shares at $29 each. EMC still retains a 90% stake in VMware, which offers IT systems management software. Shares in VMware were up nearly twofold at $52.72 in the final hour of trading on Tuesday.



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