VMware projects revenue hike, EMC unveils Pivotal plan

EMC CEO Tucci speaks at a news briefing to release two reports addressing the impact of information technology on the environmentBy Sinead Carew (Reuters) – Software company VMware Inc promised to boost its annual revenue growth as high as 20 percent in coming years, sending its shares up 7 percent on Wednesday morning. The company, which is 80 percent-owned by data storage leader EMC Corp, was presenting at an investor meeting on Wednesday where the two companies also outlined their plans to set up Pivotal, a venture that will be majority-owned by EMC. VMware said that the creation of Pivotal, a combination of both companies' data analytics and cloud application assets, would boost VMware's operating margins this year. …


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