VMWare Boosts IPO Price Range

VMWare boosted the expected price of next week's initial public offering to $27 to $29 a share from the previously expected $23 to $25.

The Palo Alto, Calif., unit of EMC (EMC Quote - Cramer on EMC - Stock Picks) is due to sell 33 million shares next Tuesday in one of the most highly anticipated tech IPOs in some time. VMWare is expected to raise some $600 million in the offering, which comes just weeks after the company scored investments from tech titans Cisco (CSCO Quote - Cramer on CSCO - Stock Picks) and Intel (INTC Quote - Cramer on INTC - Stock Picks).

"We are the leading provider of virtualization solutions," VMWare says in its IPO prospectus. "Our virtualization solutions represent a pioneering approach to computing that separates the operating system and application software from the underlying hardware to achieve significant improvements in efficiency, availability, flexibility and manageability."