EMC subsidiary buys Ga. firm for $1.2B
VMWare, a provider of cloud and virtualization software and services that is a subsidiary of Hopkinton-based EMC Corp., is buying an Atlanta company that makes enterprise mobile management and security software.
VMWare, which is based in Palo Alto, Calif., said it’s buying AirWatch for about $1.175 billion in cash and approximately $365 million in installment payments and what it called assumed unvested equity. The acquisition will be funded through a combination of balance sheet cash and proceeds from approximately $1 billion of additional debt to be provided by EMC, according to VMWare.
"AirWatch provides best-in-class, secure, enterprise-mobile management to thousands of businesses around the world," said Pat Gelsinger, CEO of VMware, in a statement from the company. "With this acquisition VMware will add a foundational element to our end-user computing portfolio that will enable our customers to turbo-charge their mobile workforce without compromising security."
VMWare expects the acquisition to close later in this quarter, subject to regulatory approvals and customary closing conditions.
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