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) 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) and Intel (INTC Quote).

"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."