EMC to acquire Virtustream
Deal valued at $1.2bn, will see EMC take over Virtustream and add its managed cloud services to its own portfolio of hybrid offerings
Storage powerhouse EMC Corporation, has announced it has entered into a definitive agreement to acquire privately-held Virtustream. According to the vendor, Virtustream will form EMC's new managed cloud services business.
The acquisition represents a transformational element of EMC's strategy to help customers move all applications to cloud-based IT environments.
The company said Virtustream chairman and CEO Rodney Rogers will report to Joe Tucci, EMC chairman and CEO.
"Virtustream is an exceptional company and this is a critical and transformative acquisition for EMC in one of the industry's fastest-growing and most important sectors," said Tucci. "With Virtustream in place, EMC will be uniquely positioned as a single source for our customers' entire hybrid cloud infrastructure and services needs. We could not be more delighted that Virtustream will be joining the EMC Federation family. It's a game changer."
One of the world's fastest-rising cloud software and services companies, Virtustream is trusted by enterprises worldwide to migrate, run and manage mission-critical applications in the cloud, including SAP.
Founded in 2009 by Rogers and CTO Kevin Reid, Virtustream delivers application lifecycle automation and orchestration with a particular focus on I/O-intensive mission-critical enterprise applications such as SAP S/4HANA and others.
"Virtustream has established itself as an industry leader and innovator for running mission-critical enterprise applications in the cloud," explained Rogers. "We're proud to be joining the EMC Federation where our combined capabilities, products and services will allow us to accelerate our vision of delivering the platform of record for enterprise systems, and address the complete breadth of cloud computing needs."