Cisco Systems will purchase $150 million of VMware Class A common shares currently held by EMC Corporation. This will give Cisco approximately 1.6 percent of VMware's total outstanding common stock (less than one percent of the combined voting power of VMware's outstanding common stock). VMware has agreed to consider the appointment of a Cisco executive to VMware's board of directors at a future date.
VMware develops software for virtualization solutions.
http://www.VMware.com
http://www.cisco.com
- Earlier this month, VMware announced that Intel Capital will invest $218.5 million in VMware's Class A common stock.
