Wednesday, April 24, 2013

Pivotol Gets $105M From GE

Pivotal Labs, the developer of agile software development tools which is co-owned by EMC and VMware, and headed by Paul Maritz, has a new warchest of funding today. PIvotal said that GE plans to make a strategic investment in the firm of approximately $105M, giving GE a 10 percent equity stake in the company. Pivotal Labs said the deal also includes a deal to enter into a "broad" research and development and comercialization agreement. Pivotal is developing platform-as-a-service (PaaS) tools aimed at the enterprise, to help companies develop applications in the cloud. More information »