Extends Union Square Advisors’ leadership in offering deep industry insights and intelligence to the world’s established technology leaders
Union Square Advisors LLC is pleased to announce that VMware and EMC have combined forces to create the Pivotal Initiative, a next-generation provider of Cloud and Data Analytics solutions. Union Square Advisors served as financial advisor to VMware in this transaction. The formation of the new entity was announced on March 13, 2013, and completed on April 1, 2013; the transaction is subject to customary closing conditions.
About Pivotal Initiative
The Pivotal Initiative combines key existing technology, people and programs from both VMware and EMC to focus on Big Data and Cloud Application Platforms. VMware will own 31 percent of the newly formed company, while EMC will take a 69 percent ownership stake. Paul Maritz, former CEO of VMware, has been named CEO of the Pivotal Initiative, which will employ 1,250 people and is expected to generate $1 billion in revenue by 2017.
About VMware
VMware is the leader in virtualization and cloud infrastructure solutions that enable businesses to thrive in the Cloud Era. Customers rely on VMware to help them transform the way they build, deliver and consume Information Technology resources in a manner that is evolutionary and based on their specific needs. With 2012 revenues of $4.61 billion, VMware has more than 480,000 customers and 55,000 partners. The company is headquartered in Silicon Valley with offices throughout the world and can be found online at www.vmware.com.
About EMC
EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset – information – in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.
About Union Square Advisors
Union Square Advisors LLC is a leading investment banking firm serving technology companies through its mergers & acquisitions, private capital financing and IPO advisory services. Founded in 2007 and with offices in San Francisco and New York, Union Square Advisors works with leading public and private firms across the technology landscape, including digital/new media, software, services, communications, storage, semiconductor and systems companies, as well as with the strategic capital providers that invest in these sectors. For more information on Union Square Advisors, please visit www.usadvisors.com.
