Wednesday, October 22, 2014

EMC Acquires VCE Stake From Cisco

EMC has agreed to buy out most of Cisco Corp.'s stake in Texas-based cloud infrastructure developer VCE, the companies said this morning. VCE was a joint venture of both EMC and Cisco, and offers up hardware to help companies implement converged, cloud computing infrastructure. Financial details of the deal were not disclosed. The companies said that VCE becomes a division of EMC as part of the deal, although Cisco will continue to maintain a small, 10% equity interest in VCE.