Tuesday, 11th August 2009, 17:00:00
Virtualisation firm VMWare has agreed a $363 million (£219.7 million) deal to acquire the web application and development firm SpringSource.
VMWare states that the acquisition will prove a major step forward in its IT simplification enterprises and expressed its intention to work together with SpringSource to develop new integrated platform-as-a-service solutions.
The takeover deal has already been approved by SpringSource stockholders and is expected to be concluded during the third quarter of this year.
Paul Maritz, president and chief executive officer of VMware, said: "The combination of SpringSource and VMware places us right at the intersection of the most important forces in the software market today - virtualization, modern application frameworks and cloud computing."
Last month, VMWare introduced a series of new products in its vCenter range of virtualisation management products, which are designed to help companies simplify and automate a variety of their IT process needs.
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