Thursday, April 26, 2007

VMware Files For IPO

Palo Alto-based VMware, Inc. has filed for an IPO, saying today that the firm will offer approximately 10% of its Class A common stock in a public offering. The firm is a wholly owned subsidiary of EMC Corp., and provides system virtualization software used in enterprise data centers. The IPO is being underwritten by Citi, JPMorgan, Lehman Brothers, Credit Suisse, Merrill Lynch & Co., and Deutsche Bank Securities. According to VMware's filing, it is looking to raise up to $100M either on the New York Stock Exchange or on the NASDAQ. The firm reported $703.9M in revenues for the year ended December 31, 2006, up from $387.0M in 2005.