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VMware and EMC to Jointly Own Fast-Growing Virtustream Cloud Services Business; Together to Offer the Industry’s Most Comprehensive Hybrid Cloud Portfolio
HOPKINTON, MASS. AND PALO ALTO, CALIF. , OCTOBER 20TH, 2015 — /BackupReview.info/ – EMC Corporation (NYSE:EMC) and VMware (NYSE:VMW) today announced plans to form the Federation’s new cloud services business by combining their respective cloud capabilities, along with existing Virtustream cloud offerings, under the Virtustream brand. Virtustream will be jointly owned by VMware and EMC and led by Rodney Rogers, CEO of Virtustream. The parties are finalizing a definitive agreement for the transaction. Virtustream’s financial results will be consolidated into VMware’s financial statements beginning in Q1 2016.
Virtustream is expected to generate multiple hundreds of millions of dollars in recurring revenue in 2016, focused on enterprise-centric cloud services, with an outlook to grow to a multi-billion business over the next several years. Virtustream will be a leader in hybrid cloud, one of the largest markets for IT infrastructure spending. The company will provide a complete spectrum of managed services for on-premises infrastructure and its enterprise-class Infrastructure-as-a-Service platform, enabling customers to move all their applications, including mission-critical applications, to cloud-based IT environments. Virtustream will offer a compatible public cloud experience for customers who deploy the Federation Enterprise Hybrid Cloud solution within their business.
“Through Virtustream, we are addressing the changes in buying patterns and IT cloud operation models that we are seeing in the market. Our customers consistently tell us that they are focused on their IT transformations and journeys to the hybrid cloud. The EMC Federation is now positioned as a complete provider of hybrid cloud offerings,” said Joe Tucci, EMC Corporation Chairman and CEO.
The new business will incorporate and align the cloud capabilities of EMC Information Infrastructure, VCE, Virtustream and VMware to provide the complete spectrum of on- and off- premises offerings including: VMware vCloud Air, VCE Cloud Managed Services, Virtustream’s Infrastructure-as-a-Service, and EMC’s Storage Managed Services and Object Storage Services offerings.
Virtustream will integrate these assets to provide customers with a unified infrastructure-as-a-service offering, designed to support the complete spectrum of business workloads, with a service portfolio that spans a full range of services and deployment options. The business will integrate and extend existing on-premises EMC Federation private cloud deployments into the public cloud, maintaining a common experience for developers, managers, architects and end users. Virtustream’s cloud services will be delivered directly to customers and through partners.
VMware will establish a Cloud Provider Software business unit led by Ajay Patel, VMware senior vice president, focused on delivering cloud software and solutions to cloud providers including VMware’s vCloud Air Network, to help them rapidly harness the opportunity of the hybrid cloud. This new unit will incorporate assets and people from the VMware vCloud Air Application Services business, vCloud Director and vCloud Air Network teams, as well as Virtustream’s Software Business including Advisor Planning and Migration tool, xStream cloud management platform and Viewtrust governance, risk and compliance solution.
Pat Gelsinger, Chief Executive Officer, VMware
David Goulden, Chief Executive Officer, EMC Information Infrastructure
All trademarks are either registered trademarks or trademarks of EMC Corporation in the United States and/or other countries, and all other trademarks used are the property of their respective owners.
VMware is a registered trademark or trademark of VMware, Inc. in the United States and other jurisdictions. All other marks and names mentioned herein may be trademarks of their respective organizations.
1 “Cloud Computing Market Overview” – 451 Group, May 2015
2 “Market Share Analysis, ERP Software, Worldwide, 2014” – Gartner, May 2015
3 “Global ERP Software Market 2013-2020” – Allied Market Research, Mar. 2015
This release contains “forward-looking statements” as defined under the Federal Securities Laws , including statements regarding the formation of the new cloud services business and the benefits resulting therefrom. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) failure of the parties to finalize and enter into definitive agreements, (ii) failure of the parties to consummate the transaction even if such agreements are entered into; (iii) the failure to satisfy required accounting requirements for consolidating the cloud services business’s results into VMware’s financial statements or the timing of any such consolidation; (iv) adverse changes in general economic or market conditions; (v) delays or reductions in information technology spending; ( vi ) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; ( vii ) competitive factors, including but not limited to pricing pressures and new product introductions; ( viii ) component and product quality and availability; ( ix ) fluctuations in VMware, Inc.’s operating results and risks associated with trading of VMware stock; ( x ) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; ( xi ) risks associated with managing the growth of our business, including risks associated with acquisitions and investments and the challenges and costs of integration, restructuring and achieving anticipated synergies; ( xii ) the ability to attract and retain highly qualified employees; ( xiii ) insufficient, excess or obsolete inventory; ( xiv ) fluctuating currency exchange rates; ( xv ) threats and other disruptions to our secure data centers or networks; ( xvi ) our ability to protect our proprietary technology; ( xvi ) war or acts of terrorism; and ( xviii ) other one-time events and other important factors disclosed previously and from time to time in EMC’s and VMware’s filings with the U.S. Securities and Exchange Commission. EMC and VMware disclaim any obligation to update any such forward-looking statements after the date of this release.
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