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VMware Announces a $400 Million Stock Repurchase Program

VMware, Inc., the global leader in virtualization solutions from the desktop through the data center and to the cloud, today announced that its Board of Directors has authorized the purchase of up to $400 million of its Class A common stock through the end of 2011. Stock will be purchased from time to time, in the open market or through private transactions, subject to market conditions. The Company expects the equity purchase program to help partially offset dilution from its equity programs and believes it to be an appropriate use of proceeds from the exercise of employee stock options.

Meanwhile, VMware's parent company, EMC also announced today that its Board of Directors has authorized a stock purchase program to allow it to make open market purchases of VMware Class A common stock in order to maintain EMC's approximately 80% majority ownership at its current level over the long term.  The stock purchase program underscores VMware's role in EMC's strategic direction and acknowledges VMware's leading position as the global leader in virtualization solutions from the desktop through the data center and to the cloud, and as one of the IT industry's most compelling value propositions.   

David Goulden, EMC Executive Vice President and Chief Financial Officer said, "The public offering of VMware's stock has enabled EMC to expose the value of VMware to the public markets, attract and retain the best talent in the industry and continually reinforce VMware's commitment to an open platform strategy.  We believe maintaining EMC's ownership level in VMware at approximately 80% allows us to continue to achieve the above objectives while also maximizing value for EMC shareholders over the long term."  

Published Tuesday, March 02, 2010 6:50 PM by David Marshall
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VMware Announces a $400 Million Stock Repurchase Program : VMblog … | VirtualizationDir - Top Virtualization Providers, News and Resources - (Author's Link) - March 3, 2010 11:06 AM
RTFM Education » Blog Archive » vNews – Mar, 2010 - (Author's Link) - March 4, 2010 12:49 PM
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