Homepage Rankings and Research Companies Channelcast Marketing Matters CRNtv Events WOTC Jobs Cisco Partner Summit Digital 2020 Lenovo Tech World Newsroom Dell Technologies World Digital Experience 2020 HPE Zone Masergy Zenith Partner Program Newsroom Intel Partner Connect Digital Newsroom Dell Technologies Newsroom Fortinet Secure Network Hub IBM Newsroom Juniper Newsroom The IoT Integrator Lenovo Channel-First NetApp Data Fabric Intel Tech Provider Zone

5 Things You Need To Know About VMware’s Acquisition Of Pivotal

From more firepower against IBM-Red Hat to creating a new business unit, here are five things you need to know about Pivotal now as an official subsidiary of VMware.

Back 1 ... 3   4   5   6  

Pivotal’s Heritage And Fall

On Dec. 30, 2019, Pivotal became a subsidiary of VMware and is no longer a publicly traded company on the New York Stock Exchange. However, it is important to take a quick look back on Pivotal’s heritage and turbulent past 12 months before being acquired.

Founded in 2013, Pivotal was created by a combination of EMC and VMware – all of which were bought by Dell Technologies in 2016. Over the years, Pivotal raised a total of $1.7 billion before going public in 2018. The company’s stock was riding at well over $21 per share in May 2019 before plunging 40 percent to $8.30 per share by August after lowering its revenue targets following a poor quarterly earnings report . During that same time period, Pivotal market cap fell from $5.8 billion on May 30 to $2.2 billion on Aug. 14. In August, reports surfaced that VMware was in talks to acquire the company.

O’Farrell said his mission to develop with Pivotal a “complete stack” -- from infrastructure to application -- to help enterprises build, run and manage modern applications. “Foundational to this stack will be innovative open source technologies such as Kubernetes, PAS and Spring,” he said. “I can’t wait to get started down this journey now that the Pivotal team is on board.”

Back 1 ... 3   4   5   6  

sponsored resources