More recently, Cisco acquired private cloud provider Metacloud in an attempt to bolster its global Intercloud platform and architecture. IBM acquired cloud infrastructure provider Softlayer for about $2 billion in mid 2013, which at the time was the world's largest privately held IaaS company. HP bought open-source cloud technology provider Eucalyptus for an estimated $100 million in late 2014. The company currently has a number of large scale clients among government (Federal and local) agencies and top-tier private companies, including The Coca-Cola Company, Domino Sugar, Heinz, Hess Corporation, Kawasaki and Lexmark.ĮMC’s move to buy Virtustream has been preceded by similar acquisitions over the last few years by competing IT behemoths including Hewlett-Packard, Cisco and IBM.
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German software giant SAP was also one of Virtustream’s early investors, pumping in $40 million back in 2013 to help it scale up and build its enterprise cloud offerings.
Virtustream has raised over $130 million in nine rounds of funding, with Intel Capital contributing backing to the company through the investment period. All these acquisitions are currently fast-growing and profit-generating businesses within EMC.įounded in 2009, Virtustream offers a number of products and solutions in the cloud management market space, spanning a wide array of capabilities that range from delivering mission-critical application running solutions, enterprise-grade software solutions for risk management, to cloud management software for private, public and hybrid clouds. Starting from the VMware acquisition about a decade ago, the company has since taken over companies such as RSA Security, Data Domain, Isilon, Aveska, Pivotal Labs, XtremIO and DSSD. EMC has been very successful with its acquisitions over the past few years. To boost its presence in the cloud computing market space, EMC previously acquired three companies in late 2014, including enterprise-grade hybrid cloud solutions platform Cloudscaling, cloud technology provider Maginatics, and subscription-based cloud backup and recovery platform Spanning. After the deal is closed sometime later this year, the company expects Virtustream’s revenues and earnings to start being accretive to EMC’s results starting 2016. The deal is not expected to contribute meaningfully to EMC’s financials this year. The acquisition could help the company expand its presence in the growing cloud computing domain and improve its range of offerings. Storage giant EMC Corporation announced the acquisition of cloud computing management software and infrastructure-as-a-service (IaaS) provider Virtustream for $1.2 billion in an all-cash deal this week.
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