VMware, the Palo Alto, Calif maker of virtualization software, is enjoying its 15 minutes of hyped IPO fame.
The company has been a leader in the move toward virtualization, which allows companies to run multiple operating systems on a single machine, and investors are eager to partake of its IPO. It raised the target price for its IPO yesterday, and shares are supposed to start trading Tuesday.
The company, owned by storage company EMC, hopes to raise as much as $1.1 billion, more than any technology company since Google went public in 2004. Mercury News story here.
VMware hiked the estimated price for its shares to $27 to $29 a share, or 17 percent more than its previous range of $23 to $25.
As reported earlier, both Cisco and Intel have invested in this company.