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EMC buys more VCE

by on22 October 2014



Cisco was the seller

Data storage products maker EMC is buying much of Cisco's stake in their joint venture VCE. The VCE joint venture, set up in 2009 as a one-stop shop for data centres, bundles Cisco's networking equipment and servers with EMC's storage gear and software from EMC's VMware subsidiary.

EMC is expected to merge VCE into its business and consolidate its sales into its quarterly results and an announcement will be made later today. EMC on Tuesday said it would make an announcement regarding a "new business development" Wednesday morning. Cisco will retain investment in the business, but at a reduced stake

EMC is also scheduled to report its third quarter results on Wednesday, said it has no plans to give up its 80 percent stake in VMware. Reports of EMC and Cisco encroaching on each other's turfs had sparked off rumours of the partnership coming to bits. EMC is also rumoured to be closing in on a deal to buy cloud start-up company Maginatics.

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