Share sale values VMware at $11bn

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"Share sale values VMware at $11bn

VMware allows one PC to run a number of operating systems
The hotly-awaited flotation of software maker VMWare has valued the company at $11bn (£5.5bn).

The company makes software that allows computers to simultaneously run different operating systems.

VMware's parent, data storage group EMC, sold off a 9% stake in the unit, with the shares valued at $29 each - near the top of the possible range.

After doubling its sales over the last year, VMware now achieves annual revenues of about $1bn.

The company sells a piece of software that lets the different operating systems act as "virtual machines" on one computer.

It allows the different systems to use the computer's resources, such as the processor, sound, graphics, hardware etc, without interfering with each other.

Virtualisation is popular with companies and computer users who need to use software packages that run on differing operating systems, or access legacy files from older systems."


BBC website report:Here

 

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yup, todays the day
33'000'000 shares at 29 bucks a pop is about 1 billion dollars

shame private investors can't get in early, the price may accelerate in early trading before private investors can pick up any (initial offerings are going direct to large finance houses etc)

that said, many believe EMC to of already netted its potential gains directly as EMC stock as increased since the announcement of the IPO earlier this year, giving the parent company an extra $1bn market cap

 

Early trading pushed the stock up >70% to $52+ USD

thus increasing the market cap to over $20Bn, half that of parent company EMC, and more than Sun Microsystems


happy days