EMC to buy out Cisco stake in VCE joint venture

News Broadband Global 23 OCT 2014
EMC to buy out Cisco stake in VCE joint venture

EMC has announced that it will acquire the majority of Cisco’s stake in their joint venture VCE for an undisclosed amount. Converged infrastructure systems provider VCE was established in 2009 and bundles Cisco's networking equipment and servers with EMC's storage gear and software from EMC's software unit VMware. Cisco, which had a 35 percent stake in the joint venture, will retain a 10 percent interest in VCE. In a statement, EMC said VCE will now focus on simplifying the deployment of hybrid clouds while continuing to advance new products based on its Vblock Systems, which feature technologies from Cisco, EMC and VMware.

VCE will continue to be run by CEO Praveen Akkiraju and his senior team with its own mission. EMC confirmed that VCE’s reorganisation and recapitalisation are expected to be completed in the fourth quarter of 2014.

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Fixed

Companies:

EMC,  VMware,  Cisco,  VCE

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Global

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Hosting - cloud - data centres, Shareholders & subsidiaries, Network equipment, Network operations services, M&A buyouts & divestments

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