VMware to acquire Pivotal Software for $2.7bn.

VMware, an innovator in enterprise software, agreed to acquire Pivotal Software, an American multinational software and services company based in San Francisco and Palo Alto, for $2.7bn. The consideration comprised of $15 per share in cash to Class A stockholders, and the exchange of shares of VMware’s Class B common stock for shares of Pivotal Class B common stock held by Dell Technologies, at an exchange ratio of 0.0550 shares of VMware Class B stock for each share of Pivotal Class B stock. “The time is ideal to join forces with VMware, an industry leader who shares our commitment to open source community contributions and our focus on adding developer value on top of Kubernetes. VMware has a proven track record of helping organizations run and manage consistent infrastructure in support of mission critical applications, and our two companies have already built a strong foundation on our successful VMware PKS collaboration. We look forward to continuing our work with VMware to provide even more value to customers building modern applications,”Rob Mee, Pivotal CEO.