(Bloomberg) -- Ford Motor Co., seeking to boost its software expertise ahead of a shift to electric and autonomous cars, will invest $182.2 million in Pivotal Software Inc., the cloud-computing joint venture of EMC Corp. and VMware Inc.
The investment gives the automaker a stake of about 6.6 percent in San Francisco-based Pivotal, Ford said. Microsoft Corp. will also invest in a financing round that totals $253 million, Pivotal said, adding that it has no set plans for a public share sale -- an option EMC Chief Executive Officer Joe Tucci said in October could happen in the “not-too-distant future.” For Pivotal, the investments bring in cash to fund operations at a time when an IPO now seems unlikely for the next year or two, according to a person familiar with Pivotal’s thinking.
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