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By KimberlyLambert
via blogs.vmware.com
Submitted: Apr 24 2013 / 14:13

In a webinar today, CEO Paul 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.
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