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EMC Buys Pivotal Labs; Plans To Expand Company

DOW JONES NEWSWIRES EMC Corp. (EMC) said it acquired Pivotal Labs, a privately held software developer, in an all-cash transaction, giving the tech company another tool in its data storage and analysis portfolio. Pivotal, a roughly 23-year-old company based in San Francisco, develops software services and tools for computers and mobile devices. EMC, which sells data-center products for storage and security, said it plans to expand Pivotal, including its project management tool, called Pivotal Tracker, which is already used by more than 240,000 developers. EMC also said it plans to use Pivotal to accelerate its development for tools related to what it called "Big Data", or datasets too large for traditional IT infrastructures. The transaction is not expected to have a material impact to EMC earnings this fiscal year. The acquisition cost wasn't disclosed. The Hopkinton, Mass., company has posted strong results recently as customers seek efficient ways to store and access massive amounts of documents and media. While worries have emerged that macroeconomic conditions are causing softness in tech spending, EMC has largely avoided any slowdown in demand, buoyed by strong traction in its storage portfolio. In January, EMC reported its best-ever fourth quarter and issued an optimistic view for 2012, saying demand for its storage products remains high and IT spending should continue to grow this year. Shares were down 27 cents at $28.73. The stock is up 28% over the past three months amid its improved earnings. -By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stock News for Emc (EMC)
DateTimeHeadline
02/05/201616:15:02Additional Proxy Soliciting Materials (definitive) (defa14a)
02/05/201606:17:57Additional Proxy Soliciting Materials (definitive) (defa14a)
02/03/201616:27:37Statement of Changes in Beneficial Ownership (4)
02/03/201616:25:25Statement of Changes in Beneficial Ownership (4)
02/03/201616:21:57Statement of Changes in Beneficial Ownership (4)
02/03/201616:18:05Statement of Changes in Beneficial Ownership (4)
02/03/201616:16:19Statement of Changes in Beneficial Ownership (4)
02/03/201616:13:44Statement of Changes in Beneficial Ownership (4)
02/01/201617:29:00TheGrantLawFirm, PLLC Files Class Action on Behalf of EMC Corporation...
01/28/201603:02:00EMC Seeks To Stem Worries Over Dell Deal
01/27/201620:10:00EMC Profit Declines as Merger Costs, Dollar Weigh on Results
01/27/201617:28:27Additional Proxy Soliciting Materials (definitive) (defa14a)
01/27/201610:50:00EMC Profit Declines as Merger Costs, Dollar Weigh
01/27/201609:44:00U.S. Hot Stocks: Hot Stocks to Watch
01/27/201608:40:00EMC Profit Declines as Merger Costs, Dollar Weigh on Results
01/27/201607:15:00EMC Announces Fourth-Quarter and Full-Year 2015 Financial Results
01/27/201607:02:59Current Report Filing (8-k)
01/26/201618:20:00VMware Names New CFO, Will Cut 800 Jobs
01/26/201616:23:00EMC Names Denis Cashman CFO
01/26/201616:20:00EMC CFO Zane Rowe to Join VMware as CFO

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