A few years ago, Cloud Foundry's leader, Pivotal Software, was split from VMware and EMC. It is now possible to re-merge with the virtualization giant VMware,80% more than the current share price. The majority of the two companies are owned by Dell Science and Technology, and the representatives are in the process of negotiating a price of $15 a share
VMware, based in Palo Alto, California, and Pivotal, based in San Francisco, and Dell Technologies Wednesday jointly submitted a document to the Securities and Exchange Commission (SEC) informing government regulators of the potential deal.
According to the Schedule 13D SEC document, a special committee composed of the boards of directors of VMware and Pivotal
VMware said in a statement:
In addition to Dell, Pivotal's other shareholders include GE, Ford and Microsoft.
Pivotal, a Cloud Foundry platform for many companies, was successfully listed in April 2018 when it appeared on the New York Stock Exchange at $16.75 a share, valued at $3.9 billion.
But after a few good months, the company's first-quarter results were disappointing, so its share price plunged in June. The stock closed Wednesday at $8.30, but surged nearly 70% in after-hours trading.
In a statement, VMware said:
Pivotal Initiative, a joint venture between EMC and VMware, was established in 2013 to specialize in big data and the cloud platform market.
Dell later acquired EMC,EMC, which is also a major shareholder in VMware.
Pivotal was originally an independent company with six main components: EMC's Greenplum data platform, Cetas data analysis software, VMware's GemFire high-speed application uptake software, Spring platform for integrating legacy data, Cloud Foundry's cloud-independent application automation technology, Pivotal Labs and its applications. Program development team.
The company is a major supporter of the Open Source Cloud Foundry project, but has been sued by investors who say it should disclose that its PaaS technology is incompatible with the container management and orchestration industry standard developed by Google: Kubernetes.
VMware's share price fell 3.1% on Thursday and plunged 3.4% in after-market trading amid the overall stock market slump.