EMC expands cloud push with $1.2 billion buy of Virtustream
May 26, 2015
Grazed from Fortune. Author: Editorial Staff.
Joe Tucci is at it again. The longtime EMC chief executive and chairman has made another purchase, buying Virtustream, an enterprise-oriented cloud computing company, for $1.2 billion in cash. This move follows EMC’s EMC -2.09% late 2014 acquisition of Cloudscaling and its OpenStack-based private cloud expertise.
Virtustream is focused on big corporate customers—SAP is among its investors—and fields data centers in the U.S., the U.K. and the Netherlands. It particularly suits financial customers and others who require payment card industry (PCI) compliance, as well as federal government customers, according to Gartner’s IT latest cloud computing report. Domino Sugar, Coca-Cola, Heinz, and Lexmark are some of Virtustream’s corporate customers…
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