Virtualization Technology News and Information
Article
RSS
VMware Announces $300 million Stock Purchase Agreement with Dell

VMware building 

VMware, Inc. announced that the company has entered into a Stock Purchase Agreement with Dell Technologies, Inc., under which VMware agreed to purchase $300 million worth of VMware Class A Common Stock currently held by a Dell subsidiary.

This $300 million Stock Purchase Agreement is part of the company's previously disclosed $1.2 billion buyback authorization through the end of fiscal 2018.

Separately, Dell Technologies plans to use the $300 million proceeds to repurchase the Dell tracking stock for VMware, DVMT.

The $300 million stock purchase is expected to be completed by the end of VMware's fiscal Q2 2018 ending on August 4, 2017. The impact of the $300 million Stock Purchase Agreement on VMware's previously provided guidance for fiscal Q1 2018 and full year fiscal 2018 diluted share count is not expected to be material. A previously announced $500 million Stock Purchase Agreement with Dell Technologies, Inc. was completed in early fiscal Q1 2018.

Published Thursday, March 30, 2017 8:48 AM by David Marshall
Filed under: ,
Comments
There are no comments for this post.
To post a comment, you must be a registered user. Registration is free and easy! Sign up now!
Calendar
<March 2017>
SuMoTuWeThFrSa
2627281234
567891011
12131415161718
19202122232425
2627282930311
2345678