What is VMware?
VMware (VMW) is a U.S. technology company engaged in cloud computing and platform virtualisation software development. Its product portfolio includes desktop software (VMware Workstation Player, VMware Fusion and VMware Workstation); server software, which comprises VMware ESXi; and cloud management software such as vRealize Suite, vCloud Suite and VMware Integrated OpenStack.
According to the company, VMware is the infrastructure platform choice of all of the Fortune 500 and has saved customers “tens of billions of dollars”. VMware says analysts Gartner, Forrester and IDC consistently recognize the company as a market leader. As of mid-April 2018, VMware had a market capitalisation of around $48.92 billion. In 2017, VMware was named to the first ever Fortune Future 50 list. The company was ranked no.6 in the Leaders category (companies with a market value over $20 billion).
Who are the key people at VMware?
Pat Gelsinger has been Chief Executive Officer of VMware since 2012, nearly doubling the company’s size during his tenure. A respected IT industry figure, he has over 35 years of technology and leadership experience. Another key figure at VMware is Zane C. Rowe, who is Executive Vice President and Chief Financial Officer. The company has three Chief Operating Officers: Sanjay Poonen is responsible for Customer Operations; while Raghu Raghuram and Rajiv Ramaswami share responsibility for Products and Cloud Services.
What is the modern history of VMware?
VMware was founded in 1998 by Edouard Bugnion, Scott Devine, Diane Greene, Mendel Rosenblum and Edward Wang. The company’s first product (VMware Workstation) was delivered the following year. The firm entered the server market in 2001 with VMware GSX Server.
In 2004, EMC acquired VMware; three years later it sold 15% of the company via an IPO. In 2016, ahead of Dell's acquisition of EMC, VMware unveiled a restructuring plan and axed around 800 positions. Some executives resigned during this period of corporate turbulence.
Over the years VMware has acquired numerous companies including SpringSource, GemStone Systems, SlideRocket, Wanova, Nicira, Virsto, ThirdSky and CloudCoreo.
What are the latest developments at VMware?
In its financial results for 2017, VMware reported revenues of $7.92 billion, an increase of 12% on 2016. GAAP net income was $570 million, or $1.38 per diluted share, compared to $1.19 billion and $2.78 per diluted share for the previous year. Operating cash flows were $3.21 billion, and free cash flows for the year were $2.95 billion.
In February 2018 Dell Technologies confirmed that it was considering floating on the New York Stock Exchange or engineering a deal that would see it acquired by VMware. Speculation about a potential restructure caused the VMware share price to plunge from an all-time high of $150 in January 2018 to $108 the following month. To find out how the shares are doing right now, follow Capital.com. Our VMW chart puts all the information at your fingertips.
Where does VMware operate?
VMware is headquartered in Palo Alto, California, and has offices in locations around the world. In the USA it has sites in 7 states including Texas and Washington; in Europe it is present in 10 countries from the U.K. to Russia; and in Asia-Pacific it has operations in China, India, Japan, South Korea, Singapore and Australia. VMware also has offices in Israel, the U.A.E. and Brazil.
Where is VMware traded?
VMware’s shares are traded on the New York Stock Exchange (NYSE). Check out Capital.com for the latest VMW chart. We’ll keep you up to date and in the picture.