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VMWare is continuing to grow

VMWare valued at $11bn

EMC sells stake in virtualisation company

Written by Dave Friedlos

Computing, 14 Aug 2007

Virtualisation specialist VMWare has been valued at $11bn (£5.5bn) following its much anticipated flotation this week.

Parent group EMC, the global storage giant, sold off a nine per cent stake in the company. Shares were valued at $29 (£14.50) each.

VMWare, which sells software that allows companies to run multiple operating systems on a single ‘virtual’ machine, has doubled its sales in the past year and now achieves annual revenues of about $1bn (£500m).

VMWare provides virtualisation services to a range of large UK business including Channel 5, Unipart Logistics and Anglian Water.

Shares in VMWare began trading today (August 14).

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