Tencent technology news, Dec. 31, according to foreign media reports, on Monday local time in the United States, VMware, a global virtualization solution provider, announced that it had completed the $2.7 billion acquisition of pivotal, a cloud computing software company, which was initially announced in August.
VMware is at a critical stage in its transition, and the acquisition gives VMware access to a move from a purely virtual machine company to a local provider of cloud computing that can manage infrastructure anywhere
VMware wants these acquired businesses to be well integrated into VMware Tansu, designed to integrate Kubernetes Containers and VMware Virtual Machines into a management platform.
Ray, Executive Vice President and General Manager of VMware Modern Application Platform Business Division
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Pivotal was listed on the New York Stock Exchange before the deal was completed, but has been a wholly owned subsidiary of VMware since Monday. It is worth noting that the deal is not a random merger between the two companies. In fact, both VMware and pivotal were acquired by Dell when it acquired EMC for $67 billion in 2015. Although both companies are part of EMC and then acquired by Dell, they remain independent. When selling pivot to Dell, pivot is considered to be a key product that can stand firm in the market.
Pivot and VMware have other strong links. Pivot was originally created by a combination of EMC, VMware, and Ge, once 10 percent owned, to give these large enterprises independent companies to help implement transformation programs. Prior to its IPO in 2018, pivotal raised $1.7 billion. Much of it came on an exciting day in 2016, when it announced $650 million in financing, with Ford's $180 million investment dominated.
At this point, pivot's future seems bright, but as a public company, the company has suffered setbacks. After the disastrous financial report in June, the company's share price began to collapse, and the stock fell 42% in one day.
Pivotal shares tumbled to a low of $8.30 on August 14 from a high of $21.44 on May 30, analysts said. Over the same period, the company's market capitalization also plummeted, from $5.828 billion on May 30 to $2.257 billion on August 14. Just then, VMware admitted it was considering buying the struggling company. VMware bailed out at $15 a share, a big premium to its August low. From now on, Pivotal has become part of VMware. (Tencent Science and Technology Reviser / Jinlu)