VMware IPO Debut Dazzles
08/14/07 - 05:02 PM EDT
In addition to promoting virtualization as a means to server consolidation, "there are a number of areas where our products are applicable," said Karthik Rau, vice president of product development. VMware also markets virtualization products for disaster recovery. "Other customers also use our platform to do desktop management," Rau said.
Demand for shares in the Palo Alto, Calif., developer of virtualization software was oversubscribed on Monday by as much as 25 times the number of shares available, according to MorningNotes. "They are the largest technology IPO to come public since Google(GOOG Quote - Cramer on GOOG - Stock Picks)," said Scott Sweet, managing director at IPO Boutique. Before adding the overallotment of shares to the deal's 12 underwriters, the listing amounts to $957 million, he added. VMware's revenue jumped 92% year over year during the two most recent quarters, to $554.1 million, and is on track to break $1 billion for the fiscal year. Intel(INTC Quote - Cramer on INTC - Stock Picks) and Cisco(CSCO Quote - Cramer on CSCO - Stock Picks) recently took equity stakes in VMware.| When an IPO rockets like this, do you think it's
a good buy?
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