Deals
EMC to Absorb VCE Joint Venture With Cisco Keeping 10% Stake
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EMC Corp., the maker of storage computers facing pressure from an activist shareholder to break up, said it will acquire most of Cisco Systems Inc.’s stake in joint venture VCE, which sells high-end data center equipment.
Cisco will keep about 10 percent of VCE, the companies said in a statement today. EMC will meld the joint venture into its business, while Cisco and VMware Inc. will continue as strategic partners. EMC is the majority owner of VMware. Terms weren’t disclosed.