After hiring former Amazon executive as new CFO, VMware makes another big step before launching its Initial Public Offering: Intel involvement.
Quoting from the official announcement:
VMware, Inc., the global leader in software for virtualization solutions today announced that Intel Corporation, through its global investment arm, Intel Capital has agreed to become an investor in VMware.
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Intel Capital will invest $218.5 million in VMware’s Class A common stock subject to customary regulatory and other closing conditions including Hart-Scott-Rodino (HSR) review. At the completion of VMware’s planned initial public offering and upon closing of the investment, Intel will own approximately 2.5 percent of VMware’s total outstanding common stock (less than one percent of the combined voting power of VMware’s outstanding common stock). Pursuant to the investment, an Intel executive is expected to be appointed to the VMware Board of Directors…
Meanwhile Forbes is reporting VMware could raise up to $741.4M from its IPO.