VMware (VMW) Pops On Potential Spin-Out of Some Cloud Assets
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VMware, Inc. (NYSE: VMW) is lifting after-hours Monday on reports is planning to spin-out some of its cloud business to keep up with Microsoft (Nasdaq: MSFT), Amazon (Nasdaq: AMZN) and Google (Nasdaq: GOOG).
GigaOm reports:
VMware, a Palo Alto, Calif.-based virtualization and software company, is planning a corporate shakeup. It hopes to spin out some of its cloud assets, including its Cloud Foundry platform-as-a-service division and parent company EMC's (NYSE: EMC) Greenplum assets into a separate company, according to sources close to the deal. The new company will also include assets of Project Rubicon, an infrastructure-as-a-service joint venture between VMware and EMC.
Read More at GigaOm
Shares of VMware last traded at $85.36, up 1.13 percent from the close.
GigaOm reports:
VMware, a Palo Alto, Calif.-based virtualization and software company, is planning a corporate shakeup. It hopes to spin out some of its cloud assets, including its Cloud Foundry platform-as-a-service division and parent company EMC's (NYSE: EMC) Greenplum assets into a separate company, according to sources close to the deal. The new company will also include assets of Project Rubicon, an infrastructure-as-a-service joint venture between VMware and EMC.
Read More at GigaOm
Shares of VMware last traded at $85.36, up 1.13 percent from the close.
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