Tuesday, July 10, 2007

VMware Sets Terms Of IPO

Palo Alto-based VMware has set terms of the firm's IPO, saying in a filing with the SEC Monday that it is selling 33M shares of its common stock at between $23.00 and $25.00 per share. VMware is a subsidiary of EMC Corporation, and provides server virtualization software used by enterprises. The IPO is being underwritten by Citi, JPMorgan, Lehman Brothers, Credit Suisse, Merrill Lynch & Co., Deutsche Bank Securities and others. VMware will trade on the New York Stock Exchange under the symbol "VMW".