VMware, Biggest Tech IPO Since Google
EMC Corp.’s VMware software business plans to raise as much as $1.1 billion today in what may be the largest technology offering since Google Inc. in 2004, signaling demand remains robust for computer-related companies.
Last week, VMware boosted the high end of its price range by 16 percent. The Palo Alto, California-based maker of programs to manage server computers plans to sell shares for $27 to $29 each, up from the $23 to $25 planned last month. So far this year, 29 technology companies have raised $3.79 billion on U.S. stock markets, compared with the $2.3 billion from 22 IPOs for all of last year, according to Bloomberg data. Interest in initial public offerings is holding steady as investors seek software developers and Internet companies with expanding sales and profit.
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