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Wednesday, January 22, 2014

VMWare to purchase mobile security firm AirWatch in $1.54 billion deal, (NYSE: VMW)

Cloud software maker VMWare Inc said it would purchase mobile security company AirWatch for about $1.18 billion in cash and about $365 million in installment payments and assumed unvested equity. AirWatch will become a unit of VMWare and its employees will continue to report to AirWatch founder and Chief Executive John Marshall.

VMware, Inc. is the provider of virtualization infrastructure solutions utilized by organizations to help transform the way they build, deliver and consume information technology (IT) resources. Shares of VMW fell by 0.86% or $-0.84/share to $97.36. In the past year, the shares have traded as low as $64.86 and as high as $101.52. On average, 2113660 shares of VMW exchange hands on a given day and today's volume is recorded at 2116598.