VMWare buys EMC information technology management business for $200 millionBy AP
Friday, February 26, 2010
VMWare buys EMC IT management business for $200M
PALO ALTO, Calif. — VMware Inc. will acquire part of EMC Corp.’s Ionix information technology management business for $200 million in cash.
Under the terms of the deal, EMC will retain the Ionix brand and full reseller rights.
The deal is expected to close in the second quarter.
Shares of VMware, which makes software used in corporate data centers, rose 43 cents, or 0.9 percent, at $49.51 Friday. Shares of EMC, which makes data-storage machines, added 17 cents, or 1 percent, at $17.49.
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