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Read more with google mobile : VMware buying SpringSource for $420 million | Technology |

My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Technology > Article Home Business & Finance News U.S. Politics International Technology Internet Entertainment Sports Lifestyle Oddly Enough Health Science Special Coverage Video Pictures Your View The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters Your View Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters VMware buying SpringSource for $420 million Tue Aug 11, 2009 10:53am EDT Email | Print | Share | Reprints | Single Page [-] Text [+] By Jim Finkle and Clare Baldwin BOSTON/SAN FRANCISCO (Reuters) - Business software maker VMware Inc has agreed to buy privately held SpringSource for $420 million, its biggest-ever acquisition, to beef up a portfolio of programs that help companies run data centers. VMware said on Monday the deal would hurt non-GAAP profitability through at least 2010, but not have material impact on 2009 revenue. VMware, the 11-year-old subsidiary of EMC Corp became one of the world's biggest software makers by selling virtualization programs, which boost the efficiency of computer servers by replacing multiple pieces of equipment with one machine. Buying San Mateo, California-based SpringSource, which sells software tools that companies use to write in the Java programing language, helps VMware diversify into other areas. "We wouldn't do this transaction if we didn't fundamentally believe it would fuel growth and our strategic position with customers," said company spokeswoman Mary Ann Gallo. Chief Financial Officer Mark Peek reaffirmed VMware's third-quarter guidance for revenue between $465 million and $480 million and said annual 2009 revenue was still on track for one percent to 3 percent year-on-year growth. But he cautioned that, while VMware's non-GAAP operating margin -- which generally strips out exceptional items -- should still fall within guidance of 20 to 22 percent in the third quarter, it could be hurt by 100 basis points in the third and fourth quarters. The GAAP impact would be more pronounced due to purchase accounting and stock-based compensation for SpringSource employees, he added. SOFTWARE COMPLEMENTS SpringSource sells software tools that companies use to write in Java, one of the world's most widely used programing languages. They compete with products from Red Hat Inc. "By some estimates, half of new Java application development work is being done in the Spring environment," VMware Chief Executive Paul Maritz said in a conference call with investors. In the near term, Maritz said VMware would not favor the Spring platform over other platforms. But "in the long run . . . innovation is most efficiently done when you have both parties sitting in the same tent." Katherine Egbert, an analyst with Jefferies & Co., said SpringSource programs complemented VMware's other software. Palo Alto, California-based VMware said it would pay $362 million in cash and equity for SpringSource and assume $58 million in unvested stock and options. The company said it expects the deal to close in September and be cash-flow positive in the first half of 2010. Continued... View article on single page Share: Del.icio.us Digg Mixx Yahoo! Facebook LinkedIn Next Article: Panasonic, NEC unveil 9 new Linux phones Also on Reuters GM bets on eBay to boost sagging sales Video Video: Leisure travel demand on the rebound U.S. banks play catch-up on hiring effort More Technology News Facebook buys social media start-up FriendFeed GM turns to eBay to sell cars Panasonic, NEC unveil 9 new Linux phones Three top Hollywood studios bring films to Web First Wi-Fi pacemaker in U.S. gives patient freedom | Video More Technology News... 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