August 11, 2009 VMWare, Inc. entered into a definitive agreement to acquire SpringSource, an enterprise and Web application development and management company.
The acquisition of the privately held company is the first step for VMware in delivering a series of platform-as-service solutions that enable companies to build, run and manage applications within internal and external cloud architectures, according to the companys release.
The PaaS market is expected to grow over the next eight years to a size of $15.2 billion in total volume, according to a Forrester report last month.
The terms of the deal involve approximately $362 million in cash and equity plus the assumption of approximately $58 million of unvested stock and options.
SpringSources stockholders approved the acquisition, which is expected to close in the third quarter of 2009, subject to customary closing conditions.
To hear more about virtualization check out these episodes of DM Radio: The Virtual Enterprise Trends in Application, Data Federation and The Future of Data Centers.
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