Boston, MA 05/16/2014 (wallstreetpr) – EMC Corporation (NYSE:EMC) has recorded a higher than expected 2% hike in its quarterly revenue because of the greater increase in sale of its data storage products. This hike has come in the event of clients expanding their operational data centers.
Business collaborations
EMC Corporation (NYSE:EMC) and Lockheed Martin Corp, a renowned defence contractor have decided to come together to invest money and resources in ultra advanced projects, in Israel. The two companies are willing to get into collaboration with many academic institutions, state government and the business industry in Israel. This would allow them to explore opportunities in research and development projects in the fields of data analytics, cyber technology and cloud computing. The companies are making an initial joint investment of $1 million. They plan to establish a vehicle using these funds and through this vehicle, both these partners would develop novel product offerings for the Israeli market. Both companies, as part of this partnership, will identify a number of workable development opportunities that could be contracted to the renowned Ben-Gurion University of Israel. This collaboration is seen as a strategic move that will enable the company to expand its presence in the market.
Acquisitions
EMC Corp’s arm, VMware has taken over A.W.S. Holding, LLC. A.W.S. has been taken over by and among Vmware’s subsidiary, Aikman Acquisition Corp., AirWatch Holding and another representative. Aikman Acquisition Corp. Has merged with AirWatch Holding while AirWatch Holding is still the surviving entity. VMware paid up a cash consideration of roughly $1.181 billion and another $139 million in the form of equity awards that are largely unvested. It will also pay close to $225 million to the key officials and founders of AirWatch Holding. This consideration would be in the form of either cash or VMware shares. Roughly $75 million of escrow cash is to be paid to select key officials or AirWatch Holding founders in the form of either cash or VMware shares.
EMC Corporation (NYSE:EMC)’s subsidiary, RSA security has taken over Aveksa Inc. Aveska Inc offers cloud based services, which is largely used by businesses to validate the identity of persons getting access to corporate networks and Web-based softwares. Consequent to this takeover, 188 employees of Aveksa would be further added to RSA’s resource base.
