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| Version 0 | Version 1 |
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| Share sale values VMware at $11bn | Share sale values VMware at $11bn |
| (about 1 hour later) | |
| The hotly-awaited flotation of software maker VMware has valued the company at $11bn (£5.5bn). | |
| The company makes software that allows computers to run different operating systems simultaneously. | |
| VMware's parent, data storage group EMC, sold off a 9% stake in the unit, with the shares valued at $29 each - near the top of the possible range. | VMware's parent, data storage group EMC, sold off a 9% stake in the unit, with the shares valued at $29 each - near the top of the possible range. |
| After doubling its sales over the last year, VMware now achieves annual revenues of about $1bn. | After doubling its sales over the last year, VMware now achieves annual revenues of about $1bn. |
| 'Hot demand' | |
| The company sells a piece of software that lets the different operating systems act as "virtual machines" on one computer. | The company sells a piece of software that lets the different operating systems act as "virtual machines" on one computer. |
| It allows the different systems to use the computer's resources, such as the processor, sound, graphics, hardware etc, without interfering with each other. | It allows the different systems to use the computer's resources, such as the processor, sound, graphics, hardware etc, without interfering with each other. |
| Virtualisation is popular with companies and computer users who need to use software packages that run on differing operating systems, or access legacy files from older systems. | Virtualisation is popular with companies and computer users who need to use software packages that run on differing operating systems, or access legacy files from older systems. |
| Analysts said VMware's shares were in hot demand - despite the recent general stock downturn - because the company was recognised as a leader in a fast-growing sector of the computer industry. | |
| Jefferies & Co analyst Katherine Egbert said VMware's share would have been good value even if they were floated for $35. |