Pivotal is now open for business!
Pivotal, first announced in December, is a new venture started by VMware and EMC that is focused on Big Data and Cloud Application Platforms. Formally launched as a stand-alone entity today, Pivotal is led by former VMware CEO Paul Maritz, who has been working as Chief Strategy Officer at EMC since last August.
In a webinar today, Maritz not only confirmed the new initiative is now a stand-alone business with 1,250 employees from VMware and EMC, but he also surprised listeners with an announcement that General Electric is making a strategic investment of $105 million into Pivotal. GE’s Vice President and Corporate Officer Bill Ruh joined the webinar today and said GE will hold a 10% stake in the new company. CEO Jeff Immelt also joined the call to explain This brings the value of the newly launched Pivotal to $1 billion.
GE also announced this morning that their Software Center is standardizing on several of Pivotal’s technologies, essentially being the first public customer to endorse the new company. Continue reading